Edmond de Rothschild Group has announced that its infrastructure debt platform now has over EUR1.6 billion (US$1.81 billion) under management. As of September 2018, the platform had invested in 28 assets in nine European countries for a total of EUR1.4 billion (US$1.58 billion) and an average deployment time of 18 months.
The Group launched the platform in 2014 with the first closing of the BRIDGE I infrastructure debt fund at EUR400 million (US$452.0 million).
The most recent addition, BRIDGE IV, achieved a first closing at the end of July 2018 and has so far raised more than EUR250 million (US$282.5 million).
The fund has two sub-funds, a TEEC-labelled investment grade senior secured debt fund, BRIDGE IV Senior Energy Transition, and BRIDGE IV Higher Yield, a specialist high yield fund, which will seek to deliver higher returns in return for higher risk. Three investments have already been made by BRIDGE IV, including two for BRIDGE IV Higher Yield, with aggregate yields of 6.2 per cent.
BRIDGE IV is designed for professional European institutional investors. As with the II and III vintages, it also offers highly favourable Solvency 2 treatment. This Luxembourg-regulated fund aims to raise between EUR500 million (US$565.0 million) and EUR750 million (US$847.5 million).