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HEDGE FUNDS
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PRINT THIS PAGE Henderson closes new secondary fund on £330m10/10/2005. Source: AltAssets. 
 Henderson Private Capital has announced the final close of its new infrastructure fund, Henderson PFI Secondary Fund L.P.
Following its first close in December 2004, the firm said they scaled back their third and final close investor-commitments to close the door on the fund raising at £330m (€485m), exceeding their original target of £200m (€285m).
Henderson Private Capital's PFI Secondary Fund aims to pursue a strategy of investing in the secondary market for operational Private Finance Initiative and Public Private Partnership projects in the UK and Western Europe. Their principal focus will be on the more developed UK PFI market.
Investors in Henderson's PFI Secondary Fund L.P. are based in the US, UK and Continental Europe and include pension funds, insurance companies and family offices. Named LPs for this fund raising include AP3, The State Pension Fund (VER), Merseyside Pension Fund, Storebrand, Greater Manchester Pension Fund and the University Superannuation Scheme (USS).
Paul Woodbury, Partner of Henderson Private Capital Infrastructure, told AltAssets: "We are delighted that the Fund has been so warmly received by investors across Europe and the US. Global demand for infrastructure investment opportunities is growing strongly and the fact that the fund was so oversubscribed demonstrates the appeal of PFI/PPP assets, particularly when they are associated with a well recognised investment brand name."
Henderson Private Capital is the private equity operation of Henderson Global Investors and has $1.5bn under management as of the 30th June 2005. The firm operates in private capital through its four businesses, Asia Pacific Private Equity, European Private Equity, Infrastructure and Fund of Funds.
Their parent, Henderson Global Investors, is an investment manager operating in Asia, Europe and North America, which currently manages approximately $119.3bn with the help of 900 staff globally. Henderson was advised on legal matters on their fund raising by S J Berwin.
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