La Banque Postale Asset Management (LBPAM), a French fund management company, has achieved the first closing of two debt funds focused on real estate and infrastructure.

LBPAM have raised a total of €553 million (US$630 million) for its two funds, which are dedicated to institutional clients.

The funds, following its predecessors, will be focused on European senior debt in both primary and secondary markets, mainly in Western Europe. One fund will invest in social housing, transport, utilities and renewable energies, and the other fund will invest in real estate projects such as office, retail, residential and logistics.

Additionally, a new fund is expected to be launched after the merger between Fédéris Gestion d’Actifs and LBPAM, which is expected for the coming moths.

Created in 1988, as a fund management company acting on behalf of external clients, La Banque Postale Asset Management (LBPAM) is a subsidiary management company of La Banque Postale (70%), Aegon Asset Management (25%) and Malakoff Mederic (5%). 

LBPAM is France's 5th largest asset management company with €150 billion (US$170 billion) assets under management.