The I2 Fund is an English Limited Partnership participating in secondary market infrastructure projects. The Fund was created to invest in the equity of existing operational infrastructure projects in the United Kingdom and European euro currency countries with a view to creating a diversified low risk portfolio.
Barclays Private Equity and Société Générale participated in the initial £300m closing of the Fund in November 2003. On the 10 June 2005 3i became the new Limited Partner and joined the Fund with an additional investment of £150m. Following further investment in March 2006 and December 2007 the I2 has reached in excess of £550m committed funds.
Infrastructure assets are increasingly recognised within certain European countries as an attractive asset class. Sponsors active in the UK's Private Finance Initiative, with portfolios of existing project investments developed over the last 5-6 years have assets which the I2 Fund are keen to acquire for investment. We also believe there to be substantial opportunities for I2 across certain European countries, in projects that benefit from strong government revenue covenants.
The I2 Fund considers investments in single project companies or groups of projects; whether by way of direct interest or an interest held through a holding entity. The I2 Fund works with vendors to develop appropriate structures. The overall objective of the Fund is to create a diversified portfolio, generating stable returns for investors.
