Montreal-based fund manager Cordiant Capital has completed a first close for its Cordiant VII Infrastructure & Real Assets Debt fund with more than $500 million in capital commitments, in what the company says is its largest first closing in its history.
According to Cordiant, the fund was closed along with a parallel account that will co-invest alongside it.
Investors, both new and returning, include large European insurers and a Canadian family office. The firm expects to hold a final close of the fund in early 2020.
The fund will focus on structurally-advantaged private debt investments in the telecom, transportation, energy and agricultural sectors.
With a client base of large institutional investors including global insurers and pension plans, Cordiant said it has made more than 300 investments in 60 countries globally.
