Financial services group ING has pulled the plug on its €1bn European infrastructure fund because it failed to attract investors, the Independent newspaper reported on Sunday.
The fund was launched last year with a 29% stake in British motorway services firm Welcome Break and a 24.9% share in a Dutch wind farm project.
A spokesman told the paper: ‘Due to a combination of market conditions, concerns over achievable critical mass and our strategy for taking the business forward, we have, sadly, decided to discontinue with the marketing of the ING EIF.’
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