Italian infrastructure fund manager F2i has reached a €310m first close on its debut debt fund, which will invest in a variety of asset classes including renewable energy.
Infrastructure Debt Fund 1 (IDF 1) has a target of €500m and has received subscriptions from insurers, banks, pension funds and foundations in Italy and abroad.
It will focus on senior and junior debt lending through loans and bonds to support development and refurbishment of Italian and EU infrastructure, including renewables, energy efficiency and networks.
F2i, which has topped €7bn in funding for the first time following the fund close, is one of Italy’s largest renewables asset managers and holds over 1GW of wind and solar projects via investments in Sorgenia and EF Solare Italia.
Renato Ravanelli, Chief Executive Officer of F2i SGR, said: “F2i is Italy’s largest infrastructure investor, capable of channelling resources from Italian and international, private and public investors into projects that are essential for the sustainable growth of society and the economy. The launch of this first debt fund adds another important tool to our strategy, providing greater flexibility, diversification and opportunities for our investors.
“This initiative is particularly relevant in fulfilling the need for private capital to support and complement public resources within the context of the Next Generation EU.
“By launching the Fund and, more generally, the strategy of investing in infrastructure debt, F2i SGR offers a complementary and additional tool with respect to traditional financing sources to support infrastructure development, working in close synergy with the banking market and infrastructure equity investments.”