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Laxman Pai, Opalesque Asia: Global asset manager Schroders has raised €312m ($358m) from European and Asian investors for its second pan-European infrastructure debt fund.
Schroder Euro Enhanced Infrastructure Debt Fund II, also known as Julie II, is managed by Schroder Aida, the specialist infrastructure finance subsidiary launched by Schroders in 2015.
Julie II was launched in Q1 2020 and aims to invest in European sub-investment grade debt opportunities with a target of raising €750 million in total.
It is the second vintage of this strategy whose first fund (Julie) was launched in 2017 and raised almost €350 million. This was almost fully deployed within two years.
Julie II focuses on mid-sized brownfield core assets based in Europe, with an emphasis on delivering diversified debt exposure across countries and sectors.
According to a company press release, infrastructure debt is an increasingly attractive asset class for institutional investors due to its defensive nature. In particular, sub-investment grade infrastructure debt enables healthy yields to be captured in the low-interest-rate environment, while maintaining a stronger credit profile than other assets with similar ratings.
Investors from Asia and Europe supported this close, bolstered by a strong re-up rate from clients in the first vintage, particularly insurance companies.
Augustin Segard, Head of Enhanced Infrastructure Debt and Fund Manager, said: "The strong investor appetit...................... To view our full article Click here
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