Edmond de Rothschild's Bridge V exceeds EUR1.2bn
Edmond de Rothschild Asset Management has already reached its target to match the successful previous fund raising for its infrastructure debt platform, the fifth vintage having raised to date more than EUR1.2 billion.
Launched in 2014 with EUR400 million, BRIDGE is now nearing EUR4 billion of capital raised.
BRIDGE V is still fundraising and is already guaranteed to exceed its predecessor BRIDGE IV which closed with EUR1.25 billion in February 2020. It is composed of two strategies, one investing in Senior Solvency 2 Infra eligible assets and the other in the Yield Plus space (range BB-/BB+ and mainly Junior debt). EUR 900m have been raised for the former and in excess of EUR 300m for the latter. Following on the full deployment of its 2020 dry powder of EUR800 million across 19 assets, BRIDGE (Benjamin de Rothschild Infrastructure Debt Generation) has already committed EUR 600m across 14 assets as of 30 September 2021. The 13-people team confirmed its ability to act as a true alternative arranger of debt working with leading financial and industrial sponsors but also smaller developers.
The platform, run by Jean-Francis Dusch and its London and Geneva based team, has historically invested across Europe with some outside of Europe OECD countries assets invested on a case by case basis. The geographic expansion is core to the platform’s growth in the forthcoming years with a US and more global strategies being under consideration. BRIDGE invests across all sectors and is committed to Energy Transition, Digital Infrastructure, Transport (including Green Mobility), Social (including Energy Efficiencies) and cleaner Utilities. Its core investors base originates from Germany, France, Belgium, Switzerland, Spain, Italy, Austria, Slovakia, South Korea and is expanding.
“Our Infrastructure Debt platform was set up from day one with global ambitions. We are implementing it steadily alongside our growing number of investors ensuring the quality of our management remains first in class throughout,” says Jean-Francis Dusch. “Some leading European insurance companies have reconfirmed their confidence and satisfaction with the BRIDGE platform, investing significant amounts as core investors in 2021 for BRIDGE V.
“The 77-assets platform resisted well to Covid demonstrating the teams ability to negotiate and structure robust debt instruments to also support the long term sustainability of the assets it invests in."
BRIDGE is part of Edmond de Rothschild Asset Management Private Markets platform which also comprises Private Equity and Real Estate and totals close to CHF20 billion of AUM. It forms part of the Group’s early and long-term commitment to real assets and sustainable development.
The platform’s success was an opportunity for the team to attract talent and strengthen further an already very experienced and recognised team. Among new joiners, Gauri Kasbekar-Shah, a veteran banker just joined from NatWest as Managing Director to head Energy Investments and what Jean-Francis Dusch refers to as the “Gen 2 Energy Assets as part of the Energy Transition”.
“I am delighted and proud to join the fast growing innovative ambitious Edmond de Rothschild Infra Debt platform and contribute to its commitment and impact on Energy Transition and ESG,” says Gauri.