First Infrastructure Capital Advisors, a subsidiary of Quanta Services, held a $750 million first close on its debut fund, according to public filings.
The firm registered with the SEC in February, with Quanta contributing $60 million of its own capital to the fund, First Infrastructure Capital, and raising the remainder. The firm declined comment on the fund’s target.
Eaton Partners is serving as the placement agent for the fund, which will focus on greenfield development in markets including the US, Canada, Latin America and Australia.
A Quanta presentation describes First Infrastructure as a “strategic capital partnership between Quanta and select infrastructure investors that intends to invest in concessions, P3 and private infrastructure projects”. The brochure in the fund's public filings states that the firm “expects to leverage Quanta’s size, reputation and experience in order to gain access to investment opportunities that may arise through Quanta’s internal network of businesses”.
First Infrastructure holds just over $1 billion in assets under management, with another $2 billion in possible co-investment commitments, according to SEC filings. The firm is led by managing partner Dan Shapiro.
A Texas-based utility infrastructure contractor, Quanta has focused on electric power infrastructure and oil and gas pipelines. The firm’s projects include the Maurepas pipeline in Louisiana, the Raven natural gas facility in Texas, and the Fort McMurray transmission line project in Edmonton, Canada.