Meridiam Infrastructure, a Crédit Agricole Private Equity fund specialising in investment in public-private partnership infrastructure projects, has raised EUR600m in capital commit
Meridiam Infrastructure, a Crédit Agricole Private Equity fund specialising in investment in public-private partnership infrastructure projects, has raised EUR600m in capital commitments from investors.
Meridiam, which was established in 2006, claims the success of the fundraising cements its position as a leading investor in the PPP sector and says that despite a high level of demand from long-term institutional investors, its size will not be increased in order to focus on its specific positioning.
Alongside its two sponsors, the Crédit Agricole group and construction engineering firm Aecom Technology, the fund has assembled a group of European institutional investors, mainly pension funds and insurers.
Meridiam is targeting the global primary and secondary markets for PPP-financed infrastructure projects including are transport (roads, rail, airports), public service facilities (hospitals, schools, prisons, police stations) and the environment in OECD countries, principally the European Union.
An international team of experts in the financing, development and management of PPP projects is headed by general manager and senior investment director Thierry Déau. ‘Our aim is to help the long-term development of essential infrastructures and associated public services in the areas of healthcare, education, transport and the environment,’ Déau says. ‘We offer a means of diversification for investors looking for productive assets that are stable and offer a long-term view.’
The fund has already invested nearly EUR80m in three projects in Europe, the Vienna ring road in Austria, the Limerick tunnel in Ireland, and the Lift (Local Improvement Finance Trust) vehicle for investing in primary health care programmes in the UK.
Crédit Agricole Private Equity has 40 investment teams managing a total of EUR2bn in various types of private equity vehicle focusing on different segments of the market, including leveraged buyouts and expansion, venture capital, mezzanine, renewable energy, PPP infrastructure, liquidity solutions and co-investment.
