Stafford Capital Partners, which manages real assets secondaries funds among other private markets strategies, has set a €1.3 billion target for its fifth infrastructure secondaries fund, affiliate title Secondaries Investor reported.
The London-headquartered firm closed its previous fund in August on €731 million.
Stafford Infrastructure Secondaries Fund V will be classified as Article 8 under the EU Sustainable Finance Disclosures Regulation, and will “actively target energy transition assets while strongly limiting its fossil-fuel related exposure”, the firm said in a statement on Tuesday.
Stafford mainly invests in core infrastructure funds in Europe, North America and Australasia on an LP-led and GP-led basis.
In an October podcast with Secondaries Investor, managing partner William Greene said that ESG reasons are spurring some LPs to sell exposure to infrastructure and energy funds, and that on average, 10 percent of a fund raised in the primary market ends up in some shape or form on the secondary market around five years later.
Stafford’s average ticket size in infrastructure secondaries is around $5 million to $100 million, Greene said.
This month, Stafford said it had received a $200 million mandate from HESTA, Australia’s superannuation fund for health sector workers, for SDG-aligned investments. The vehicle is a fund of one – a structure that Stafford has also set up with a handful of other impact investor clients.