RREEF, the alternative investment arm of Deutsche Bank, has managed to raise about €620 million for its second European infrastructure fund, sources familiar with the fundraising told Infrastructure Investor.
The fund manager is looking to reach a final close in 2012 of between €2 billion and €3 billion for its second European vehicle. RREEF has been fundraising since last year, having reached a first close on Fund II in April. Similar to its first European infrastructure fund, Fund II is expected to target investments in ports, toll roads, airports and utility companies across the continent.
RREEF raised €2.1 billion for its first European infrastructure fund, which it closed in 2007. As at March 31 2011, Fund I had invested in 10 European assets, representing assets under management of some €5.1 billion.
The fund manager’s global infrastructure portfolio stood at more than €8 billion in assets under management at the end of last year, having started out at €45 million in assets under management in 1994. RREEF Infrastructure has teams in Europe, Asia Pacific and the US.