Fundraising

The Geneva-based asset manager has raised capital for its second flagship fund.

Unlisted, closed-end funds raised 15% less than in 2019. But with $102.6 billion amassed, 2020 is still the third best year on record.

The firm has also opened an office in Frankfurt – its first in Germany – as it seeks €750m for infrastructure secondaries.

The manager expects to close the UK government-backed fund this quarter after receiving commitments from Willis Towers Watson and Morgan Stanley.

The London firm has closed its second natural resources fund at its hard-cap.

The firm has already deployed $1.8bn from Asia Pacific Infrastructure Investors, across six investments in Asia, including its first in the Philippines.

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 firm is understood to be in pre-marketing for the two vehicles, having launched its last European fund in 2016 and its Africa fund in 2015.

The US-based firm ended 2020 with more than $9bn committed to its latest flagship fund and nearly $1bn committed to a new emerging markets vehicle.

The Danish fund manager has agreed to sell a 25% stake to the wind turbine manufacturer to accelerate its own growth which includes launching a new energy transition fund next year.