Assets under management at the Edmond de Rothschild Group’s infrastructure debt platform have quadrupled to EUR1.6 billion since the BRIDGE I fund had its first EUR400 million closing in 2014.
The first closing of BRIDGE IV at the end of July 2018 has so far raised more than EUR250 million. Our fourth infrastructure debt fund has two sub-funds, a TEEC-labelled investment grade senior secured debt fund, BRIDGE IV Senior Energy Transition, and BRIDGE IV Higher Yield, a specialist high yield fund, which will seek to deliver higher returns in return for higher risk. Three investments have already been made by BRIDGE IV, including two for BRIDGE IV Higher Yield, with aggregate yields of 6.2 per cent.
BRIDGE IV is designed for professional European institutional investors. As with the II and III vintages, it also offers highly favourable Solvency 2 treatment. This Luxembourg-regulated fund aims to raise between EUR500 million and EUR750 million.
“BRIDGE IV’s first closing, which comes with three investments, showcases our strong agility in financing the real economy and reinforces our position as sector leader,” says Jean-Francis Dusch, Managing Director, BRIDGE CIO at Edmond de Rothschild Asset Management.
BRIDGE’s London-based investment team has continued to deploy its assets at a brisk pace in 2018 with EUR170 million invested in six deals in sectors like renewable energy, telecoms, storage of natural resources and urban heating concessions. As of end September 2018, our infrastructure debt platform had EUR1.6 billion under management and had invested in 28 assets in nine European countries for a total of EUR1.4 billion and an average deployment time of 18 months.
