Just shy of $24bn was raised by 13 funds in the first quarter of the year, with specialised strategies accounting for 38% of the number of vehicles closed.
The French manager has already deployed circa €1bn from its latest core fund across transportation, digital and social infra in France, Spain and Portugal.
The manager now has a 19-strong team in the region, with the new vehicle looking to invest in telecoms, transportation, logistics and energy transition.
After securing a $1bn first close at the end of 2019, the global renewables fund reached an ‘inflection point’ last summer, according to head of renewables David Giordano.
The vehicle will continue its predecessor's mid-market strategy of investing in energy transition, telecoms and public transport.
The London-based GP has brought together AP4, IMAS Foundation, Industriens Pension and KLP to target core infra assets in Western Europe.
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.
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