London CIV has launched a private debt and an infrastructure fund, boosting its private market range. Collectively, the funds have been seeded with £725 million, comprising investments from eight of London CIV’s client funds.
The LCIV Renewable Infrastructure Fund has an open-ended structure and will focus on renewable energy infrastructure assets by investing in greenfield and brownfield assets. This will include generation, transmission, distribution and enabling assets.
Five seed investors have committed an initial £435 million into the fund and the subsequent closes expect to see a further six client funds invest more than £300 million.
The LCIV Private Debt Fund has a closed-ended structure and will seek to achieve its objective by investing its assets into at least two underlying funds, which make loans to European and North American middle market companies, respectively.
The private debt fund has been seeded by three client funds with a total commitment of £290 million; a further three investors are expected to invest more than £150 million by the end of the year.
Mike O’Donnell, chief executive of the London CIV, said: “London CIV is delighted to be adding these new funds to our current offering. The launches and commitments are a key milestone for London CIV and a reflection of our ongoing collaboration with our client funds through the London CIV Seed Investment Groups.”