Rubicon reaches first close on sustainable infrastructure fund

Rubicon Capital Advisors has announced the first closing of its new debt fund focused on energy infrastructure.

The global investment and merchant bank launched the Rubicon Infrastructure & Energy Transition Junior Debt Fund, aimed at providing flexible, innovative junior debt solutions for assets or companies involved in the core, core+ and value-add infrastructure or energy transition sectors.

These sectors include traditional transportation, social and healthcare public-private partnerships along with renewables, energy sustainability and transition projects.

This is a 10-year fund that will focus on midcap investments €10 million (£8.6m $10.7m) and €50 million (£43m $53.4m) across Europe and North America.

Rubicon plans to deliver double-digit returns for investors with mid to high single-digit annual cash yields.

The company achieved its first close on the fund following a sizeable capital commitment from a fund managed by ABL Life Insurance Co and Woori Global Asset Management, a subsidiary of Woori Financial Group.

Jesus Gonzalez Torrijos, a partner at the group holding company of Rubicon, will lead the fund and will be responsible for deploying the junior debt capital.