Founder and CEO Vincent Levita tells us why Europe is attractive to investors as he walks us through the French manager’s biggest fundraise.
The manager has already invested about 70% of the fund’s capital and expects it to be fully deployed by year-end.
This marks the firm’s first foray into infra credit, to be quickly followed up with the launch of an investment-grade vehicle.
The move comes after the firm’s acquisition of AXA IM Alts, which has created an overlap in equity fund strategies between the two managers.
This latest fund represents an almost 90% increase on the manager’s previous fund, which targeted €400m.
The manager has raised 14%, or €1bn, more than the upper range of its target in about two years of fundraising.
The manager has already deployed over 60% of its fund target, with a successor strategy expected to launch in early 2027.
The vehicle is expected to be $2bn in size once it is formally established, with room to get larger over time.
Manager extends fundraising by roughly six months in attempt to capitalise on resurgent investor appetite for infrastructure.
The vehicle includes 22 infra assets, spanning highways, high-speed rail, hospitals, university accommodation and low-carbon solutions.
The fund aims to bolster support for the country's transport and logistics infra efforts as it prepares to host the 2030 FIFA World Cup.
The close is double the size of the previous vintage of the Vision Ridge flagship infrastructure fund, despite time on the road increasing substantially.
The insurer's investment firm will provide 'deeper pockets' for when deal sizes and asset sizes get bigger.
Strong investor demand has already propelled the fund beyond its predecessor’s $5.2bn final close.
Hamilton Lane’s Infrastructure Opportunities Fund II exceeded its $1.25bn target and tripled the size of its predecessor.