Valencia-based alternative investment manager Net de Gerrers is looking to break into the infrastructure market with the launch of a renewables-focused fund and a broader infrastructure investment strategy.
Net de Gerrers founder Eduard Navarro told Inframation that his firm is looking to raise capital from US investors for deals in Spanish-speaking markets, and support Spanish investors and corporates in infrastructure investments abroad.
The planned EUR 200m infrastructure fund will focus on greenfield investments in renewable energy, targeting solar, wind and small hydro projects in Iberia, Navarro said.
Fundraising for the Luxembourg-registered fund was due to start within weeks, but it might be postponed to later in the year because of the coronavirus outbreak, he said.
Separately, Net de Gerrers also plans to invest in brownfield infrastructure assets, although it is yet to decide whether this will be done through a fund.
It recently completed its first brownfield deal – the acquisition of the Túnel d’Envalira concession in Andorra (pictured) – on behalf of a number of undisclosed Spanish private individuals and family offices.
The transaction, valued at EUR 60m including debt, reached financial close on 4 March.
The sellers were Globalvia (80%), BBVA (10%) and Andorra-based private banking group Andbank (10%), according to a Globalvia statement.