Source: Bloomberg.com

By Joyce Moullakis

Dec. 20 (Bloomberg) -- Babcock & Brown Ltd., Australia's second-largest investment bank, plans to raise more than 1 billion euros ($1.3 billion) from investors for a new European fund, two people with knowledge of the plan said.

The fund, which won't be publicly traded, will invest in infrastructure such as rail, airport and water assets, said the people, who declined to be named because details of the fund haven't been announced. Babcock was considering raising money to start two funds in Europe investing in infrastructure and property, Executive Director Martin Rey said in June.

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Posted by pichu at December 20, 2006 1:07 AM