The Flemish investment company PMV and the Dutch consultant / investor Rebel Group have announced the creation of a new investment infrastructure fund, "European Projects Investment Company" (EPIco).

Epico will focus on public-private partnership projects (PPP), renewable energy and other infrastructure projects in UK or elsewhere in Europe. The fund will invest in projects in construction or in operation.

The target size is €100 to €150 million (US$107 to US$160 million) of which already €90 million (US$96 million) has been pledged. Pensioenfonds Metaal OFP, Pensio B OFP, Crelan Bank and Argenta Group have already invested in EPIco.

A second close is expected for the end of 2017.

Despite being an autonomous company, the fund managers will be PMV Fund Management SA and Rebel Infra Developers BV.

Wout Korving, co-founder and fund manager at Rebel, adds:

"We expect that a large part of the future pipeline will consist of medium to small infrastructure projects. Access to the expertise of Rebel and PMV ensures, along with an entrepreneurial approach, that we can be effective in these smaller projects. "