PARIS, April 27 (Reuters) - French private equity company Meridiam said on Wednesday it raised 1.3 billion euros ($1.47 billion) for a fund dedicated to long-term investments in European infrastructure projects.
Meridiam, which is bidding for French regional airports in Nice and Lyon in a consortium with Spain’s Ferrovial, said it closed the fund-raising in four months and saw demand of 2.2 billion euros.
“There is growing appetite for the asset class among all investors,” Chief Executive Thierry Deau told Reuters.
Investors such as insurers are seeking to diversify their portfolios and are increasingly turning to alternative investments such as infrastructure, real estate and private equity in search of returns amid ultra-low interest rates.
Deau declined to identify investors involved in the transaction but said 60 percent of them were pension funds and 40 percent life insurers.
“The purpose of the fund is to be truly pan-European,” Deau added. ($1 = 0.8848 euros) (Reporting by Matthieu Protard, Gilles Guillaume and Maya Nikolaeva; Editing by James Regan)