AXA Investment Managers – Real Assets announces the successful final close of its second comingled European infrastructure debt fund, European Infrastructure Senior (Floating) 2 (“EIS 2” or the “Fund”), which has raised a total of c. €1.05 billion, exceeding its original target.
The capital was raised from a diverse pool of institutional investors from across Europe and Asia. The fundraising benefited from repeat investors from EIS 2’s predecessor, European Infrastructure Senior 1 (“EIS 1”), in addition to a number of new accounts. The investors’ commitment is a credit to the EIS platform’s proven strategy which was supported by the successful track record of its first fund. It also demonstrates the strong demand from institutional investors to gain exposure to the asset class in the current environment.
EIS 2 will pursue a consistent strategy to its predecessor and seek to provide its investors with defensive and stable income by investing into a diversified portfolio of core infrastructure financings across European markets. The Fund will target predominantly senior secured floating rate debt investments. Since its launch in December 2018, EIS 2 has already invested in six transactions in the digital infrastructure, renewable energy and rail transportation sectors in France, Spain and Germany.
The team will continue to apply the same principles that have prevailed throughout the growth of AXA IM – Real Assets’ private debt platform in that, in addition to co-investing alongside EIS 1, the Fund will co-invest alongside existing mandates and third party capital managed by the Infrastructure Finance team of AXA IM – Real Assets, increasing the ability to deploy significant commitments and to participate in large transactions. EIS 2 will source opportunities from both the primary and secondary markets.
AXA IM – Real Assets’ infrastructure debt platform now totals €7.3 billion(3), spread over more than 80 different transactions, and via a combination of private and public instruments. The current portfolio is well balanced across several countries including France (20%), Germany (15%) and the Nordic countries (21%); as well as underlying sectors, with strong exposure to utilities (18%), renewable energy (17%), digital and telecoms (15%).
Source : Company