The Lucky Bay shallow-water port, operational since mid-2020, could list in late 2023 following a capital raise to fund expansion and repay construction debt.
The vehicle is a first of its kind in Brazil’s infra market and is investing in operating renewables and power transmission assets.
The Paris-based fund manager expects to reach final close on $1.5bn before summer, a target which, if met, will make AAIF V nearly double the size of its predecessor.
Renewity will provide institutional investors with diversification they cannot currently get in the market, co-founder David Hunter tells us.
Final commitments to the firm’s latest energy fund will put the fundraising total above a $4bn target and at or near its hard-cap.
The fund will focus on projects in Japan, South Korea and Taiwan to capitalise on feed-in tariffs and the countries’ decarbonisation targets.
The fund, which had raised about €7.5bn at the end of 2020, will continue raising towards its €15bn hard-cap.
The Schroder Euro Enhanced Infrastructure Debt Fund II was launched last year, reaching a €312m first close in July.
Infra Debt 20 theme 2021
Our ranking of the world's largest credit GPs show they have raised $108bn from third-party LPs over the last five years.
The manager is almost halfway to its €450m target, having raised €336m for its first infrastructure co-investment vehicle in late 2018.
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