Kommunalkredit Austria AG has held a first close of its debut fund Fidelio KA Infrastructure Debt Fund Europe 1, which is set up under the framework of an infrastructure debt platform.
Fidelio KA Infra Europe 1 has raised an initial EUR190 million (US$214.7 million), exceeding its original target of EUR150 million (US$173 million). The total time to market was less than 10 months. A second close at EUR250 million (EUR289.3 million) is planned to happen prior year-end.
Fidelio KA Infra Europe 1 has a 10-year maturity with a 2x2 years extension option. It provides institutional investors with predictable and stable cash flows by investing into a diversified portfolio of essential infrastructure projects with an above average yield.
The fund is focusing predominantly on senior debt investments in European infrastructure and energy assets. Warburg Invest Luxembourg S.A. is central administrator as well as AIF Manager and Caplantic GmbH, a joint venture of NORD/LB, Talanx AG and Bankhaus Lampe, the investment adviser.