Schroders raises €2bn for European infrastructure debt strategy
Schroders Capital has raised €2 billion for its latest sub-investment grade infrastructure debt strategy, securing the largest pool of capital in its series to date and confirming strong institutional appetite for higher-yielding private debt. The total includes €1.6 billion committed to its Junior Infrastructure Debt Europe III fund (JULIE III), alongside €400 million in co-investments and side vehicles.
Launched at the end of 2022, JULIE III is the fourth vintage in the series and focuses on brownfield infrastructure assets across Europe’s mid-market. Target sectors include transport, telecoms, energy and renewables. The fund is classified under Article 8 of the Sustainable Finance Disclosure Regulation (SFDR), reflecting its integration of environmental and social objectives.
Around 50% of the capital has already been deployed, with gross returns exceeding 8%, according to Schroders. The firm said its strategy aims to benefit from long-duration, inflation-linked revenues generated by essential service providers.
“This successful fundraising confirms the strength of institutional demand for infrastructure debt and our ability to originate differentiated transactions,” said Jérôme Neyroud, Head of Infrastructure Debt at Schroders Capital.
The fund’s investor base includes insurance companies, pension schemes, asset managers and sovereign wealth funds from across Europe and beyond.
JULIE III follows earlier vintages launched in 2017 and 2020. JULIE I raised close to €350 million, while JULIE II raised over €1 billion and was fully deployed in just over two years. Schroders Capital manages over €20 billion in infrastructure strategies globally and continues to see strong deal flow across core-plus and transition-aligned assets. The strategy aligns with broader megatrends such as energy transition, digital infrastructure and green mobility.
