By Joyce Moullakis

May 27 (Bloomberg) -- Babcock & Brown Ltd., Australia's second-largest investment company, plans to raise more than $1 billion for a fund to invest in Turkish infrastructure as the government steps up asset sales, two people with knowledge of the matter said.

Babcock is approaching investors and will target assets such as airports, roads, utilities and ports, said the people, who declined to be identified because the plans are private. The Sydney-based firm expects to finish raising the money for the closely-held fund next year, they said.

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Posted by boyang at May 27, 2008 11:30 PM