Print this article

What's New In Investments, Funds? - Neuberger Berman, Whitehelm Capital

Editorial Staff

11 February 2020

Neuberger Berman
has held the first closing of its Whitehelm Capital Infrastructure Debt Partners I fund, which reached its fundraising target of €500 million ($545.7 million).

The firm expects to hold a final close on the fund by the summer of 2020.

Whitehelm focuses on debt issued by defensive, non-cyclical infrastructure borrowers in OECD countries, a strategy which it says that has returned more than 9 per cent (US dollar, hedged, pre-fees) since inception in 2001, without a single default, impairment, restructuring or loss on its debt investments. 

The debt fund targets returns of 400 basis points to 600bps over reference rates with protection against negative rates, with a ten-year life, the firm said in a statement.

To date, this transaction brings Whitehelm’s investments in infrastructure debt to €1.33 billion. Whitehelm Capital has invested €6.5 billion, with €3.1 billion in funds currently under management and €12.3 billion in funds under advice.