Magan on the hunt for funds in Europe
The fund will be given the right to co-invest in projects on the Continent, where Babcock & Brown is committing money from its own balance sheet. In some cases, investors will have additional opportunities to co-invest with Babcock & Brown.
Magan is understood to be working with Edward Hanson, Babcock & Brown’s global head of equity syndication, on raising the new fund. Magan will also chair the fund’s investment committee. It is the first time Babcock & Brown, which is expected to contribute $50m to the new fund, has attempted anything of this type in Europe.
While declining to comment on the fundraising, Magan said: “Babcock is continuing its global development and especially its push into Europe. It wants to work with some big European