Zak Bentley
The second infrastructure vehicle to target the region is seeking double-digit returns from an expected 10 investments.
The 288MW greenfield project will be the largest of its kind in Sweden and is the first ramp-up of HgCapital’s renewables activities in four years.
The acquisition is the fifth tie-up for the Swedish firm’s third fund which closed on €4bn earlier this year.
The fund managers will oversee three separate vehicles intended to leverage equity and debt investments in fibre broadband across the UK.
The deal brings an end to the firm’s 10-year ownership of Red Funnel, having initially purchased the company from JPMorgan.
The projects were won in Italy’s latest auction last year by PLC System and are set to begin construction next month.
The firm’s new Core Infrastructure Fund, expected to hit a €450m hard-cap after the summer, purchased a stake in ADTIM from InfraVia.
The company is considering selling its 10.3% stake which seeded 3i Infrastructure’s portfolio when it was set up in March 2007.
The move by the Worcestershire County Council Pension Fund, which knocked back an approach from I Squared, represents its first steps in boosting its infrastructure allocation.
Stuart Ledger leaves Thames Water after nine years at the firm which has been hit with fines of £28.5m in the last few months.