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Laxman Pai, Opalesque Asia: Global infrastructure investment manager Igneo Infrastructure Partners has officially wound down its inaugural European Infrastructure Fund at a value of €2bn ($2.16bn).
"The European Diversified Infrastructure Fund I (EDIF I), a 2009 vintage fund, has now reached the end of its 15-year term and has completed the full divestment of the fund's assets, which has delivered approximately €5.0bn in returned capital and an average money multiple of c.2.6x to EDIF I investors," said a press release from the unit of Australia-based First Sentier Investors Group.
Despite the recent challenging market conditions, the realization of the fund's assets represents an average net return and yield of 12.6% and 5.5% respectively, it said.
Niall Mills, Managing Partner and Global Head at Igneo said: "Now that EDIF I has reached maturity and the fund is now closed, we can see tangible evidence of how our long-term approach to investment generated award-winning returns for our investors and their members throughout and across economic cycles."
Since the fund's inception in 2009, the investment manager deployed €2.0bn across 10 infrastructure businesses, targeting investments in European mid-market, sustainable, mature, economic infrastructure assets in the energy, transportation, utility, and telecommunications sectors.
In 2015, EDIF I had successfully reached its hard cap of €2.0bn in commitments from leading glo...................... To view our full article Click here
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