Swen Capital Partners has closed its second infrastructure fund at €307 million, above its initial target of €200 million.
Swen, a French private equity firm with a socially responsible investment strategy, is investing the fund in core infrastructure assets, greenfield projects and renewable energy.
The fund is managed as a fund of funds and follows an earlier infrastructure vehicle launched in 2010.
Jean-Philippe Richaud, managing director at the firm, says the new fund has made more than 15 investments and is 60% invested. It has distributed its first interest payment to investors after the final closing.
“This is good news for the investors in the fund which, like its predecessor, has not seen a ‘J’ curve". A J curve illustrates the typical pattern of negative returns in the early years of a private equity fund until investments mature and make positive returns.
The fund has a focus on geographical and sector diversification and invests in primary and secondary markets.
Swen is also active in private debt and has over €3 billion of total assets under management.
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