Swiss Life raises €1.2bn

The European insurance group closes second infrastructure fund above target.

Swiss Life has held a final close of Global Infrastructure Opportunities II at €1.2 billion, exceeding its initial target by €200 million. The fund has made seven investments to date, with its portfolio comprising assets based in France, Italy, Poland, Portugal and Switzerland. GIO II has a 25-year term and focuses on direct investments in minority participations of up to 50 percent, primarily core infrastructure investments in Europe and North America. Targeted sectors include regulated networks, transport, energy (conventional and renewables), telecoms and social infrastructure.