Rothschild eyes up to €800m for second infra fund

The firm plans to raise between €400m and €800m to purchase senior secured debt in brownfield and greenfield projects.

Edmond de Rothschild Asset Management is aiming to raise between €400 million and €800 million for its second infrastructure debt fund under the Benjamin de Rothschild Infrastructure Debt Generation (BRIDGE) name.

BRIDGE II is pursuing returns of 200+ basis points and aims to hold a first close on 31 July 2016, according to a statement from the firm. It will primarily target European investors.

Infrastructure debt is an attractive option for investors because of the low volatility in the marketplace, stable income and long maturities, the firm said.

The group’s first fund, BRIDGE I, raised €595 million in 2014 from a number of French institutional investors, including insurance companies, provident societies and mutual funds.

The company has deployed 71 percent of BRIDGE I in renewable energy, roads, rails and air transportation projects in France, Germany, Austria, Belgium and the UK. It held its last close in January and is expected to be fully deployed by the first half of 2016.

BRIDGE II will invest in the senior secured debt of both greenfield and brownfield sites.

Edmond de Rothschild Asset Management is the debt fund investment team and part of the private banking specialist the Edmond de Rothschild Group. The investment team has six locations in France, Switzerland, Germany, Hong Kong, Luxembourg and the UK.

As of 31 December, the investment group had €53 billion in assets under management.