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BaltCap Infrastructure Fund

Publication date: 2017-07-24

Tags: maritime, world, overland, estonia, lithuania, latvia

BaltCap Infrastructure Fund

BaltCap, said to be the largest private equity and venture capital investor in the Baltic States, has established the EUR 100 million BaltCap Infrastructure Fund (BCIF).

The Fund's main focus will be on providing capital for transport, energy, and social infrastructure projects. The BCIF has been set up for a duration of 20 years, and is expected to mobilise EUR 480 million worth of infrastructure investment on the ground. Out of the 100 million quota, EUR 20 million comes from the European Investment Bank (EIB), whose support is in turn backed by the European Fund for Strategic Investments (EFSI), part of European Commission's Investment Plan for Europe (otherwise known as the Juncker Plan). Apart from the EIB, the BCIP is backed up by the Nordic Environment Finance Corporation, the pension funds of SEB, Swedbank and LHV, and Swedbank Life Insurance.

"We welcome the cooperation with the BaltCap Infrastructure Fund as it is the first infrastructure fund in the Baltics with the goal of catalysing private investors to finance infrastructure projects. This Fund is an answer to the rising investment needs in the transport, energy efficiency, and renewable energy sectors in the region. Particularly, it addresses the continuing and potentially growing demand for equity capital for the implementation of infrastructure projects," Ambroise Fayolle, VP at EIB responsible for EFSI, commented.

Šarunas Stepukonis, Partner at the BCIF, added, "The Baltic countries are facing an infrastructure funding gap of EUR 6.0 billion over the next five years, which is expected to become even larger after the 2014-2020 EU funding programme. Physical infrastructure such as electricity, heating, railways, roads, ports, and airports suffer from a substantial deficit in terms of capacities and efficiencies. With strong support from international financial institutions and local pension funds we are able to address the infrastructure funding gap, and help Lithuania, Latvia, and Estonia to realise their infrastructure investment programmes. This is the first time in the region that local pension fund assets will be deployed to develop infrastructure for future generations."

Baltic States of Estonia, Latvia, and Lithuania (photo: Wikimedia Commons)

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