London-based infrastructure and private equity investment manager Foresight Group has held a first close for its Italian green bond fund at €70 million ($85.7 million).
The Foresight Italian Green Bond Fund is the first infrastructure debt fund raised by the company and also the maiden dedicated infrastructure project bond fund in Italy. It has attracted banks, insurance companies and family offices, including the European Investment Bank.
The fund, which targets a final close of €200 million ($245 million), expects its second close by the end of the year.
It has plans to complete its first investment by the end of this quarter.
Investments include solar, wind, waste-to-energy, biomass and anaerobic digestion as well as energy efficiency projects.
