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Meridiam Infrastructure raises €546m

The French infrastructure manager has closed its Africa-focused fund above target.

Meridiam Infrastructure has held a final close for Meridiam Infrastructure Africa Fund at €546 million. The fund had initially targeted €300 million but this was increased to €500 million in November 2018. Through this fund, the firm aims to build a resilient infrastructure that has a positive impact on the climate, the environment and communities.

The latest fundraising saw a re-up from 50 percent of its existing investors – largely development finance institutions and multilaterals – as well as new commitments from private investors such as European insurance companies and pension plans. Allianz France, the European Investment Bank, Proparco, the Overseas Private Investment Corporation, and CDC Group have each disclosed a commitment to the vehicle.