Source: Financial News

By Stephanie Baum

Citigroup's alternative investment arm has launched its first infrastructure fund and is contributing one sixth of the fund from the bank's own balance sheet.

Citigroup Alternative Investment has allocated $500m (370m euros) to the fund, Citi Infrastructure Investors, and aims to raise a total of $3bn. It will invest in between six and 10 large deals, each requiring more than $1bn of equity, said a source close to the fund.

Investments could include transportation such as toll roads, airports and railways, utilities such as water and electricity and social opportunities such as buildings and waste. The fund will initially focus on investments in North America and western Europe but could extend to emerging markets.

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Posted by pichu at May 17, 2007 5:13 PM