France-based La Banque Postale Asset Management in France has held a first close for its new infrastructure debt fund, the LBPAM European Responsible Infrastructure debt fund.
The fund raised €375 million ($420 million) and aims to take advantage of new market dynamics and investment opportunities in sectors related to energy transition and digital infrastructure in Europe. The investment strategy of this new fund has been enriched by greater geographical and sectoral diversification as well as direct lending.
The infrastructure fund is targeting €600 million ($672 million) in equity commitments, and will be marketed throughout the year.
LBPAM has €229 billion ($256 billion) in assets under management.
