UBS Asset Management’s Infrastructure and private equity business has had the final close of its inaugural infrastructure debt fund, Archmore Infrastructure Debt Platform, which has raised €570 mln.
The capital has been raised from 17 institutional investors comprising a mix of insurance companies, pension funds and family offices spread across eight European countries and Japan. UBS said that the strong level of interest reflected the ongoing trend of investors seeking alternative investments in the current low interest rate and low yield environment.
'Among investors, we see a strong and growing interest in alternatives. Infrastructure debt is an attractive alternative asset class that offers stable, long term cash flows. The substantial final close of our inaugural infrastructure debt fund is another important step in the expansion of our alternatives offering, enabling us to provide the solutions clients need in this challenging environment,' commented Ulrich Koerner, president UBS Asset Management.
Archmore IDP focuses on private infrastructure debt opportunities in Western Europe, primarily through direct lending with an focus on the the mid-size European infrastructure investment market.
Tommaso Albanese, as the fund’s CIO, leads the London-based team.
Since the fund’s first closing in September 2014, UBS has deployed €220 mln, or around 40% of the capital raised into four investments, including HH Ferries, a transportation operation in Scandinavia; Exeltium, an energy business in France; Senior Assist, a social infrastructure business in Belgium; and Spex, a solar energy park in in Spain.