Schroder Euro Enhanced Infrastructure Debt Fund II (Julie II), a fund managed by Schroder Aida, has hit €312 million ($356 million) at first close.
The fund was launched in the first quarter of 2020 and will target European subinvestment-grade debt opportunities. The fund is seeking to raise €750 million ($856 million) in capital commitments.
Julie II focuses on mid-sized brownfield core assets based in Europe, with an emphasis on delivering diversified debt exposure across countries and sectors, according to Schroders. These entail assets that provide essential services, are capital intensive with high barriers to entry, have a long economic life, deliver long-term cashflows, benefit from regulated markets and have low technological risk. These opportunities include water and energy companies, railways, renewable energy portfolios, electricity grids and roads.
Julie II is the second vintage of this strategy, following the 2017 launch of the fund’s prede
