UBS raises $380 million for second infra fund, far from target

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UBS raises $380 million for second infra fund, far from target

The asset management arm of Swiss bank UBS has recently made a filing with the US Securities and Exchange Commission showing that the bank has secured at least $379.9 million for UBS International Infrastructure Fund II.

According to sources the bank has already been on the road  for a period of 26 months and it is still far from its $2 billion target.

In November 2008, UBS's asset management group raised $1.5 billion for its first infrastructure fund, largely from pension funds and sovereign wealth funds. UBS International Infrastructure Fund, managed by UBS Global Asset Management in London, follows a 15 year, unlisted, direct, closed-end strategy with an OECD investment focus.

The fund has invested approximately 90% of its capital across a premier, diversified portfolio of infrastructure assets in Europe, North America and Australia

The fund has a pending investment in Spinning Spur II, and it owns investments in Gassled through its Njord Gas Infrastructure company, Collgar Wind Farm (a 206 megawatt wind farm in Australia), Northern Star Generation (a 1,402 megawatt portfolio of power stations in the United States), Saubermacher (a waste management business serving central and eastern Europe based in Austria) and Southern Water (a water and sewerage company serving southeast England).

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