RiverRock Brownfield Infrastructure Fund holds final close at €195.5m
RiverRock is delighted to announce the final close of its Brownfield Infrastructure Fund (“RBIF”) at €195.5 million, having exceeded its €150 million target.
Launched in late 2018, RBIF specialises in the investment and management of equity participations in small and medium-sized operational Public Private Partnership (“PPP”) projects located in the Euro area. The fund targets long term investments and partnerships with construction companies and public clients.
Almost reaching its hard cap of €200 million, this strategy has proven attractive to leading European institutional investors thanks to its niche and defensive nature. RBIF’s investor base comprises European insurance companies and pension funds, for whom the predictable and contracted cashflows backed by public counterparties (city, region, federal state) and immediate cash yielding characteristics of the fund are key investment parameters.
The Portfolio Management team comments:
Alessandro Graziano: “The level of interest we have received from top tier institutional investors has been almost unprecedented for a first-time fund and is a testament to the ethos of the strategy and the experience of the RiverRock team and wider platform.”
Emilie Rouchon: “Over the last two years, we have built a diversified and balanced portfolio of PPP projects in three countries of Western Europe. The COVID-19 crisis has tested and proven the resilience of the portfolio as the Fund has been able to pay stable distributions to our investors from day-one”.
Olivier Sueur: “We have identified and are assessing a strong pipeline of opportunities in the Eurozone and are currently working on several transactions which we expect to announce in the coming months. Exceeding our target will allow us to invest in more infrastructure projects; continue to build a larger and more diversified portfolio of projects for our investors; and create a positive social impact on communities in line with our ESG principles.”
RBIF has already deployed close to €100 million across four transactions, owning participations in 24 social infrastructure projects in three countries: France, Spain and the Netherlands.
For its inaugural rating with UN PRI, RBIF was awarded a A rating for the infrastructure module. RiverRock is committed to addressing Environmental, Social and Governance (“ESG”) challenges in its investments processes and decision, as well as remaining a partner to, and long-term investor in, these important infrastructure projects.
About RiverRock www.riverrock.eu
RiverRock European Capital Partners LLP is an alternative asset management firm which invests in private markets and real assets. It is headquartered in London with offices in Paris, Milan, Madrid and Frankfurt. RiverRock is authorised and regulated by the Financial Conduct Authority in the UK.
RBIF is a closed-end fund which is domiciled in Luxembourg, managed by RiverRock and regulated by the Commission de Surveillance du Secteur Financier (“CSSF”). RBIF invests in core European Infrastructure equity and focuses on operating PPP assets, primarily those with availability-based revenues. The geographic focus is Euro-denominated Western Europe. Available only to Professional Investors. Capital at Risk.
Alessandro Graziano: [email protected]