HSBC Infrastructure III first close on $580 million
HSBC has had a first close on its fourth and latest infrastructure vehicle, HSBC Infrastructure Fund III, at $580 million, against a final target of $1 billion.
The global infrastructure fund has received the majority of the commitment “from longstanding investors in our previous infrastructure funds," according to Werner von Guionneau, CWO of HSIL. The preceding fund, the GBP300 million ($455 million) HSBC Infrastructure Fund II, is now fully invested in 22 projects. The new fund is bidding on the Singapore National Sports Hub, as well as other assets. According to data, global infrastructure fundraising fell from almost $35 billion in 2008 to $7 billion in 2009.
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