First Infrastructure Capital Advisors, a subsidiary of Quanta Services, held a US$750 million first close on its debut fund, First Infrastructure Capital.
The firm registered with the SEC in February, with Quanta contributing US$60 million of its own capital to the fund and raising the remainder. Eaton Partners served as the placement agent for the fund.
The fund will focus on greenfield development in markets including the US, Canada, Latin America and Australia.
First Infrastructure is a strategic capital partnership between Quanta and infrastructure investors that intends to invest in concessions, P3 and private infrastructure projects. The fund’s brochure states that the firm “expects to leverage Quanta’s size, reputation and experience in order to gain access to investment opportunities that may arise through Quanta’s internal network of businesses”.
First Infrastructure holds just over US$1 billion in assets under management, with another US$2 billion in possible co-investment commitments.
A Texas-based utility infrastructure contractor, Quanta has focused on electric power infrastructure and oil and gas pipelines. The firm’s projects include the Maurepas pipeline in Louisiana, the Raven natural gas facility in Texas, and the Fort McMurray transmission line project in Edmonton, Canada.