Barclays Bank has announced the creation of the first bank-led U.K. infrastructure debt fund as a private sector solution to address the dearth of sources of finance to back U.K. infrastructure. The fund, named Barclays Senior Debt Infrastructure Fund I, would have a target size of £500 million ($809 million) and invest in the senior debt of social, economic and energy infrastructure projects, according to a statement released by the London-based bank. The fund will invest senior debt originated by Barclays Corporate, which has an established track record of originating and managing such assets. It will have exclusive access to projects funded by Barclays Corporate and will be seeded with £200 million ($323.7 million) of assets to give a return from day one. Barclays added it would retain a 20 percent interest in each asset alongside the fund.
David Cooper, head of infrastructure debt at Barclays Co