Source: Financial News

By Stephanie Baum

UBS took a 50% stake in a US power generating company, marking the debut investment from the Swiss bank's infrastructure asset management fund which is scheduled for its first close later this year.

UBS has set a target of $1.5bn (1.1bn euros) for its infrastructure asset management fund. The fund launched in 2006 and UBS expects an initial close by the end of the third quarter. The infrastructure asset management business is a relatively new, but fast-growing business with 25 people based in New York, London and Sydney.

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Posted by pichu at May 10, 2007 10:27 AM