U.S. Markets close in 5 hrs 24 mins

3i Is Seeking Up to $1.5 Billion for Infrastructure Fund

Gillian Tan
3i Is Seeking Up to $1.5 Billion for Infrastructure Fund

3i Group Plc is seeking as much as $1.5 billion for its first U.S. infrastructure fund, according to a person with knowledge of the matter. Representatives of the London-based firm have begun speaking with investors about a so-called value-added, middle-market strategy and annualized returns net of fees in the mid-to-high teens, said the person, who asked not to be named because the matter is private. 3i itself is contributing $300 million as an anchor investor, the person said.