MUFG Bank, Ltd. and Mitsubishi UFJ Trust and Banking Corporation have launched a joint platform with AlbaCore Capital Group that will give global investors scalable, sustainable access to UK and European infrastructure debt. The platform is designed to meet the rising demand for infrastructure financing driven by regulatory support and a shift toward sustainable projects, and it will target a €5‑€10 billion portfolio over the next five years.
The partnership leverages MUFG’s long‑standing project‑finance expertise, which has consistently ranked among the world’s leaders, and AlbaCore’s investment‑grade and high‑yield strategy. By combining MUFG’s global project‑finance origination capabilities with AlbaCore’s mid‑market origination expertise, the two firms aim to generate fee income and strengthen MUFG’s presence in a market that Japanese banks have historically under‑exploited. The collaboration also brings together fundraising and investment‑management capabilities from both entities and First Sentier Group, creating a robust platform for investors seeking stable, income‑focused returns.
AlbaCore, founded in 2016 and now part of the First Sentier Group, has deep experience in alternative credit and has previously secured anchor investments from Mitsubishi UFJ Trust for its senior direct‑lending strategy. The new platform represents a natural extension of AlbaCore’s credit expertise into infrastructure debt, while MUFG’s project‑finance leadership positions the partnership to capture the record issuance of infrastructure debt seen in 2025, particularly in energy‑transition and digital‑infrastructure sectors.
Management highlighted the strategic rationale behind the deal. David Allen, Managing Partner and Chief Investment Officer at AlbaCore, said, “Working together, AlbaCore and MUFG Bank will draw on a rich pool of expertise and resources to deliver compelling solutions to investors, underpinned by a specialised, experienced industry‑leading investment team.” Fumitaka Nakahama, Global Head of MUFG’s Corporate & Investment Banking Business Group, added, “This partnership is designed to unlock attractive risk‑adjusted returns by addressing a structural financing gap in UK and European infrastructure.” Takafumi Ihara, Group Head of MUFG’s Asset Management & Investor Services Business Group, noted, “This strategic initiative aligns with our global asset‑management business, which is to expand our private product capability and competitiveness globally in the infrastructure debt space.”
The platform’s launch signals MUFG’s intent to broaden its global investment‑grade lending portfolio and to capitalize on the growing momentum in European infrastructure debt, which has attracted substantial investor interest for its stable, income‑focused returns. By creating a dedicated platform, MUFG and AlbaCore aim to capture a share of the market’s expansion while providing investors with a diversified, sustainable debt offering across the region.
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