News / Equitix raises 500 million for its third infrastructure fund

Equitix raises 500 million for its third infrastructure fund

🕔 October 2, 2013
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Equitix have announced that their fundraising for Equitix Fund III, has hit the hard cap of £500 million, 3 months after its £350 million First Close.

The fund was oversubscribed by over £100 million. Their investors are mostly European corporate and local authority pension funds, with a number of investors re-upping from their previous investments with Equitix.

As with Funds I and II, Fund III will typically invest in UK PPP infrastructure assets for the concession durations of circa. 20 - 25 years.

Hugh Crossley, Equitix's CIO commented:

'Equitix has a good pipeline of primary and secondary projects and has already earmarked approximately £150 million of Fund III to assets where Equitix is at Preferred Bidder/exclusive stage, including North Tyne Extracare and its Scottish Hub pipeline'.

Separately, Equitix is in the process of raising a UK energy efficiency infrastructure fund, that will invest alongside the fund Equitix manages where the Green Investment Bank are cornerstone investor. The energy efficiency fund has held its First Close, and has made three investments to-date. This fund invests in small-scale demand reduction and renewable generation infrastructure assets in commercial and government related properties.

Evercore Private Funds Group acted as the exclusive global placement agent for Equitix Fund III; Ashurst provided legal support and Deloitte provided tax advice.

Equitix has committed close to £450 million into over 50 UK core infrastructure projects since inception of Equitix Fund I in 2008. Equitix Fund I closed in the Spring of 2010 and is fully invested (£104 million), while Equitix Fund II held a Final Close in May 2012, and is close to being fully committed (£333 million).

Source: Equitix



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