AMSTERDAM (Reuters) - Amidst a flight to quality, investors are favouring infrastructure funds that invest in refresh able energy projects with a proven technology, the head of BNP Paribas Fortis Clean Energy Fund tfeeble Reuters.
Although fundraising has beapproach more difficult, with some investors having met their allocations for infrastructure for the year, there is still appetite for infrastructure funds with tangible assets and easy to understand strategies, Joost Bergsma, the fund's managing director, said.
"Investors like the recede vernment subsidies and the green appeal that approach with refresh able energy projects, as well as the expertise of a dedicated refresh able energy fund," Bergsma said.
Refresh ables are also seen as attractive when compared with more complicated alternative asset classes, such as hedge funds, Bergsma added.
The 10-year closed-finish fund has so far raised 158 million euros from investors, including 50 million euros from Belgium's Fortis Bank. Other investors include Dutch pension funds Grafische Bedrijven and Zorg en Welzijn and undisclosed investors from Belgium and Japan.
The fund, which has a fundraising taracquire of 450 million euros, is aiming for another close by the finish of the year and has an internal rate of return in the mid-teens, Bergsma said. Investors are required to commit a minimum 5 million euros.
RISK DIVERSIFICATION
The fund has solar investments in Spain and Italy and wind investments in Britain and France, but is gaze ing to also create commitments in hydroelectric and biomass projects, Bergsma said. Continued...
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