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The fund is more than two-thirds to its €700m target and has already agreed or committed to investments in three European funds.
The Spanish manager, which was originally targeting €350m, raised the majority of Fund II from institutional investors, in contrast to the predecessor vehicle.
The Munich-based asset manager has deployed roughly 40% of the infrastructure equity fund – a hybrid vehicle that will invest in other funds, secondaries but also directly via co-investments.
The strategy is designed to target some of the smaller investors entering and increasing their activity in the sector, Amundi’s Guy Lodewyckx tells Infrastructure Investor.
The manager was originally targeting $1.75bn for its second mezzanine fund, expected to reach a final close as early as end of October.
The German manager says about €100m of the capital was raised since early March.
The German manager intends to keep its third instalment at a similar size as it seeks to maintain its current strategy.
European secondaries specialist Ardian will act as anchor investor and offer current partners the opportunity to become LPs alongside it, a source said.
Following the success of its sterling-denominated fund that has raised £1bn to date, the London-based firm is launching a similar vehicle that will be available to the broader European market.
The FoF manager’s IPIF Core vehicle, established in 2015 and with $82.4m AUM, has achieved 9.5% returns since inception and is looking to expand.

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