Exclusives

Archmore Infrastructure Debt Platform II is almost double the size of its predecessor and is 20% invested.

The move comes almost a year after the fund manager agreed its first US deal with the acquisition of FirstLight Fiber.

The group’s third-generation vehicle was launched earlier this year with a target of €750m and has already made three investments.

The vehicle launched earlier this year is expecting a first close before Christmas and is predicted to reach its €6bn hard-cap next year.

The group’s second fund has made six investments and is roughly 60% deployed after raising €1.8bn in July 2017.

Plans to expand the LP base to more institutional capital beyond the current DFIs would bring the fund to just over €500m.

The fund is targeting €7.5bn and has set a hard-cap of €9bn, more than double the €4bn raised for Fund III in 2017.

The new vehicle will focus on biomass, healthcare infrastructure, PPPs and waste and water facilities, as Asian renewables ‘heating up’.

The move would more than double the size of its predecessor fund and follows the €628m listing of portfolio company Neoen this week.

Jonas Nyquist, most recently head of private equity and infrastructure at the Swedish life insurer, will head a team at the oil and gas giant's fund management subsidiary.