Stonebridge launches second infrastructure debt fund
Canada-based Stonebridge Financial Corp. has launched its second fund, Stonebridge Infrastructure Debt Fund II, with a $300 million fundraising goal. An initial closing will be held in December 2013. A subsequent closing will occur within 12 months of the initial closing to accommodate additional interested investors.
Stonebridge currently manages Stonebridge Infrastructure Debt Fund I, a closed-end infrastructure debt fund developed with the support of PPP Canada. Fund I provides private debt financing for the construction and operation of social infrastructure and energy assets. Fund I closed in 2012 with capital commitments totaling approximately $201 million. Investors include the Business Development Bank of Canada, Teamst