UBS Asset Management has launched a second infrastructure debt fund with seed commitments of more than €448 million from pension funds and insurance companies.
The Archmore Infrastructure Debt Platform II follows the launch of UBS’s first European infrastructure debt fund, which closed in September 2016, which aimed to take advantage of a shortage of finance for infrastructure projects at a time that banks were shrinking their balance sheets.
The new fund, to be managed by London-based chief information officer Tommaso Albanese, aims to focus on private infrastructure debt opportunities in Western Europe, mostly through direct lending.
The commitments to the fund come from nine investors in five European countries and Japan.
Over 75% of these investors also invested in the previous fund.
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