UBS Asset Management’s real estate and private markets business has reached the €1bn (£900m) hard cap of its second European infrastructure debt fund nine months after launch.
Archmore Infrastructure Debt Platform II had an initial target of €700m but was oversubscribed by investors.
Capital was raised from 48 investors, comprising a mix of pension funds and insurance companies from across Europe and Asia.
The fund targets mid-size European infrastructure financing with a focus on private senior secured infrastructure debt deals. It has committed about 20% of its capital since launch in March 2018 to four senior infrastructure financing transactions.
It follows a similar strategy to the first infrastructure debt platform, which delivered gross returns averaging 3.8%.
The two funds now total €1.6bn in committed capital, invested in 16 transactions across 11 countries over the past four years.
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