Connect with us

Infra

Infrastructure Investor Debt 30 2024: Ranking 11-20

Published

on

11. Edmond de Rothschild Asset Management

HQ: Paris
Capital Raised: $6.22bn
Total AUM: $23.41bn

Edmond de Rothschild Asset Management maintained its position in this year’s ranking with an 11 percent increase in capital raised. In April the manager announced BRIDGE VI, targeting €1 billion for infrastructure debt projects across Europe, Asia and the Americas.

The previous vintage closed in 2020 on €2.5 billion. Last year, it loaned funds via its BRIDGE debt financing platform to social infrastructure firm Kinland, which focuses on the Nordic region and continental Europe. In September, it invested €24.7 million in Kyotherm.

12. Global Infrastructure Partners

HQ: New York
Capital Raised: $5.6bn
Total AUM: $100bn

Global Infrastructure Partners fell two spots this year despite its capital raised remaining exactly the same as last year’s total.

Since its inception in 2006, GIP continues to target infrastructure investment assets in the energy, transportation, digital, water and waste sectors, with a focus on complex transactions, strategic joint-venture partnerships with large industrial partners and operational improvements. Its equity business focuses on large-scale investments in infrastructure businesses and assets that provide essential services for communities with high barriers to entry and significant governance positions.

13. Rivage Investment

HQ: Paris
Capital Raised: $5.14bn
Total AUM: $8.58bn

Rivage dropped one spot in the ranking as capital raised fell by 6 percent this year. No new funds were closed by Rivage over the past 12 months, but the manager announced the launch of two new debt vehicles.

The European Investment Fund made a €30 million deposit to the EU’s new debt impact-focused European Climate Debt Solutions Fund (EUCLIDES) as a cornerstone investor. Rivage is targeting a first close of €100 million and a target size of €250 million. In February 2023, the France-based manager launched a €300 million sustainable infrastructure debt fund alongside NN Group to help accelerate the energy transition.

14. Schroders Capital

HQ: London
Capital Raised: $4.14bn
Total AUM: $8.58bn

Schroders Capital is in the market with the third vintage of its “JULIE” fund series, fully dedicated to sub-IG infrastructure investments in Europe and focused on core, brownfield assets. JULIE III, targeting 8-9 percent in Europe, has successfully raised €600 million after holding a first close in April 2023.

Schroders Capital also has a dedicated IG strategy, similarly focused on core, brownfield assets in Europe with the latest fund, Euro IG Debt Fund V, garnering €500 million in 2023.

15. IFM Investors

HQ: Melbourne
Capital Raised: $4.08bn
Total AUM: $143.23bn

Australia’s IFM Investors also maintained its standing in the ranking for a second consecutive year. The manager posted an impressive 10 percent increase in capital raised over the past 12 months via mandates and open-end vehicles.

In November, IFM also announced a memorandum of understanding with the UK government to invest £10 billion ($12.6 billion; €11.7 billion) across equity and debt in the UK by 2027. The manager explained that the investment would go towards funding large-scale infrastructure and energy transition projects. The MoU was also an increase on the £3 billion that IFM had pledged to invest in the UK back in 2022.

16. MEAG

HQ: Munich
Capital Raised: $3.82bn
Total AUM: $346.48bn

Germany’s MEAG fell three positions in the ranking this year, despite launching its third infrastructure debt vehicle in August. MEAG Infrastructure Debt Fund III is targeting €600 million to €800 million and will focus on senior secured debt lending across Europe, mostly in sectors including transport, social infrastructure, communication and the energy transition.

The previous infrastructure debt vehicle in the series closed in 2021 on €1.05 billion, well above the €800 million initial target, and followed on from the first in the series, which closed on €661 million in 2019.

17. Westbourne Capital

HQ: Melbourne
Capital Raised: $3bn
Total AUM: $8.5bn

Australian manager Westbourne Capital fell one spot in the ranking this year following a 7 percent drop in total capital raised over last year’s numbers, largely due to its Westbourne Infrastructure Debt Opportunities Fund falling out of the counting period.

In 2018, Westbourne hit a first close on $1.5 billion for its infrastructure debt platform, managing director David Ridley told Infrastructure Investor at the time, adding that he expected to see increased demand from insurance companies for infrastructure debt investments as they seek to replace lower-returning government bonds in fixed-income portfolios.

18. La Banque Postale Asset Management

HQ: Paris
Capital Raised: $2.9bn
Total AUM: $72.94bn

In September 2023, La Banque Postale Asset Management announced the launch of a
€1 billion impact infrastructure debt fund in support of the energy transition in Europe. The fund will be deployed over a three-year period and focus on renewables, the circular economy, clean transport, energy efficiency, green hydrogen and energy storage.

The French manager moved up four places this year after capital raised jumped by 24 percent over the past 12 months, even though its LBPAM European Infrastructure Debt Fund II dropped out of the counting period.

19. Goldman Sachs Asset Management

HQ: New York
Capital Raised: $2.73bn
Total AUM: $2.55trn

Goldman Sachs Asset Management climbed one spot from last year’s ranking after a small drop in capital raised over the previous year’s total.

NN Investment Partners was a Netherlands-based asset manager headquartered in The Hague with operations across Europe, Asia and the Americas. The company was acquired by Goldman Sachs Asset Management in April 2022, having ranked 30th in that year’s Debt 30. In 2018, NN Investment Partners debuted its first infrastructure debt fund, NN (Lux) European Sustainable Infrastructure Debt fund, targeting $200 million with a focus on sustainable investments across social infrastructure, transportation, energy, utilities and digital infrastructure.

20. The Carlyle Group

HQ: New York
Capital Raised: $2.7bn
Total AUM: $426bn

The Carlyle Group climbed one spot in this year’s ranking, despite fundraising totals staying put on $2.7 billion for the second straight year. In December, the US-based manager launched its second infrastructure debt fund, focusing on North America, after closing the first vehicle back in 2022 on $2.55 billion.

In February, the Carlyle Group also announced a $750 million senior debt financing for The Parking Spot, the largest near-airport parking firm in the US. The investment involves refinancing existing debt across a subset of The Parking Spot’s portfolio, which includes 28 near-airport parking facilities across 18 major airports in 13 US states.

This story was corrected on 13 March to update the focus of Schroders’ fund in market.

Continue Reading