- February 2012: Vol. 5, Number 2

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First State Reaches €673 Million in Commitments

by By Tyson Freeman

First State Investments has secured €673 million ($883 million) in total commitments for its European Diversified Infrastructure Fund (EDIF). First State attracted more than €305 million ($400 million) during this third fund-raising period from a number of “leading European institutional investors, including pension funds and insurance companies.”

EDIF is a closed-end fund with a 15-year life that focuses on mature, income-generating infrastructure assets in the utilities, transportation and essential services sectors.

The fund’s objective is to build a diversified portfolio throughout European OECD countries by targeting low-risk, stable assets that are expected to generate attractive IRRs of 10 percent to 15 percent per year and stable, predictable cash yields of

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