By PHIL CRAIG and WILLIAM HUTCHINGS

UBS Global Asset Management has raised $1.5 billion for an international infrastructure fund, its first, and is lining up to launch private-equity funds as it moves to diversify beyond mainstream bond and stock funds.

John Fraser, chairman and chief executive officer of UBS AG's funds arm, said the significant demand for the first infrastructure fund would probably lead the firm to launch another one next year. He said he was encouraged by the demand from long-term institutional investors, including pension funds and sovereign wealth funds.

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Posted by boyang at November 3, 2008 10:33 PM