Dexia holds second close of infrastructure fund(2)

Belgian bank Dexia has held a second close of its southern European infrastructure fund on €120 million.

Brussels and Paris-based bank Dexia has raised an additional €40 million for its southern European infrastructure fund, taking the fund’s total commitments to €120 million ($160 million).

The fund, South Europe Infrastructure Equity Finance, will target mid-market companies predominantly in France, Italy, Spain and Portugal. It will invest in sectors like social infrastructure, urban development, inter-city transport and environment.

The fund held a first close in 2006 on €80 million. Investors included Dexia, the European Investment Bank, Spanish bank Banco Sabadell and Italian bank Banco Poplare di Verona e Novara.

The additional €40 million was raised from two new investors – Holding Communal of Belgium and Caixa Geral of Portugal.

The fund has already made one investment, taking a minority stake in two rolling stock companies connected to the Spanish underground transport system Metro de Madrid.

The bank’s asset management division, which has offices in Brussels and Paris, has about €108 billion under management.