Rubicon Capital Advisors (“Rubicon”), a global investment and merchant bank, is pleased to announce the first closing of the Rubicon Infrastructure & Energy Transition Junior Debt Fund (the “Fund”).
The Fund will provide flexible, innovative junior debt solutions for assets or companies involved in the core, core+ and value-add infrastructure or energy transition sectors. This includes traditional transportation, social and healthcare PPP’s along with renewables, energy sustainability and transition projects.
The 10-year Fund, which will focus on midcap investments (€10-50 million) across Europe and North America, targets to deliver investors double digit returns with mid to high single digit annual cash-yields.
The first close of the Fund is being supported by a sizeable capital commitment from a fund managed by Woori Global Asset Management, a subsidiary of Woori Financial Group, with assets under management of KRW 8.3 trillion as of January 2023 and by ABL Life Insurance Co, Ltd. which provides life, health, pension and accident insurance services to over 1 million customers across South Korea.
Rubicon is proud to have the support of these two well-established participants in the Korean institutional market and looks forward to engaging with other institutional investors to build commitments to the overall Fund over the course of the next year.
Jesus Gonzalez Torrijos, a partner at the group holding company of Rubicon, will lead the Fund and through offices in Dublin, Madrid and New York will seek to efficiently and prudently deploy junior debt capital leveraging off the access and relationships the Rubicon group enjoys across Europe and North America.
Mr. Gonzalez has over 25 years of experience as a specialist infrastructure and project finance investment banker, including heading BBVA’s global infrastructure business. He will be supported by a highly seasoned team of professionals who collectively have over 100 years of combined experience in managing over €50 billion of infrastructure debt investments across all infrastructure sectors and geographies.
“The infrastructure and energy market has continued to provide a compelling investment proposition for investors focused on long-term, stable cash flows over the past 20 years. With new digital and energy transition technologies now a key driver of climate change, the demand for well-structured investment products is expected to grow exponentially. Contributing to the global ‘green transition’ is a priority for Rubicon and we are very glad and thankful to have the strong backing of ABL and Woori in this initiative.” commented Conor Kelly, Founder and CEO of Rubicon.
Jiroo Eoh, Department Head of Alternative Investing at ABL Life added: “We are pleased to partner with Rubicon in supporting this new junior debt fund which will provide well- structured projects and companies with an important alternative junior debt funding source as they face the economic consequences of the global pandemic.”
“We believe Rubicon has a unique positioning in the market. Rubicon has a vast understanding of the sustainable infrastructure and energy transition sectors across Europe and North America, and we believe this investment will aid us in diversifying our portfolio even further.” complemented Kenny Eoh, Director at Woori Global Asset Management.
About Rubicon Capital Advisors
Rubicon is one of the world’s leading investment banking firms focused solely on the infrastructure, energy transition, digital & utilities sectors. With offices across Europe, the Americas and Asia, the firm has a truly global reach. Since its inception in 2011, Rubicon has closed on the sale, acquisition or refinancing of over 150 essential infrastructure, energy transition, digital & utilities assets located across Europe, North America, Latin America and Asia with a combined enterprise value of more than US$85 billion. The firm is regulated by the Central Bank of Ireland and its U.S. affiliate is a member of FINRA and SIPC and registered as a broker-dealer with the SEC.
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