ING RE to launch EUR 1b European Infrastructure fund

ING Real Estate said on Monday that it wanted to raise EUR 1bn of equity for a new European Infrastructure Fund. Open to institutional investors with a minimum of EUR 10mln to invest, the fund is targeting a balanced portfolio of European assets, with an internal rate of return (IRR) of at least 10%. The fund, which will invest in a wide spectrum of infrastructure assets, is currently being seeded with assets, both from within the pool of infrastructure investments held by ING and from new opportunities being pursued by the fund. The fund recently purchased a 25% stake in Q7, an offshore wind farm project on the Dutch continental shelf, and a 29% share in Appia consortium, the new owner of the leading motorway service station operator, Welcome Break Group.

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