La Banque Postale Asset Management (LBP AM) has announced the first closing of its LBPAM Infrastructure Debt Climate Impact Fund at EUR270 million (US$281.76 million).

The infrastructure debt impact strategy uses CIARA, alongside tailormade tools developed with Carbone 4 to assist in the analysis of the eligibility of projects under the European Union taxonomy. This strategy's objective is to be aligned with the Paris Agreement by investing in low-carbon projects.

The fund aims at a target size of EUR500 million (US$521.78 million) with a hard cap of EUR700 million (US$730.49 million). Its marketing has begun with European institutional investors alongside CNP Assurances and will continue over the coming months in partnership with Aegon Asset Management.