In brief: Infranity feels triple tailwinds as infra debt funds raise €2bn

The firm's green transition and social infrastructure funds have each raised €1bn, reflecting LP demand for sustainability, infrastructure and private debt.

European sustainable infrastructure manager Infranity has closed its two flagship debt funds for a combined €2 billion, according to an announcement.

Previously known as Generali Global Infrastructure, the firm rebranded in 2018 to focus on sustainable infrastructure investments. It began fundraising for two impact debt funds in 2021: Generali Green Impact Investment Fund, which focuses on the environmental transition; and Generali Social & Digital Impact Investment Fund, which prioritises social infrastructure and invests in the health and education sectors as well as telecommunications.

Both funds have now closed at €750 million with €250 million sidecar vehicles, bringing the total across the strategy to €2 billion. The money raised is a combination of anchor investments from parent company Assicurazioni Generali and external LPs. The funds were considerably oversubscribed; Infranity originally hoped to raise €1 billion in total across the platform, managing partner Gilles Lengaigne told New Private Markets last year.

That the funds have proved popular with LPs is not surprising. A recent survey from Mercer Investments found sustainability, infrastructure and private credit to be the investment areas most commonly cited by LPs as ones to which they would increase their allocation in the coming months.