TEXT-Babcock & Brown raises more cash for U.S. investments

(Following is a release by Australian investment firm Babcock & Brown Ltd (BNB.AX: Quote, Profile, Research))

SYDNEY, Feb 20 - International investment and specialised fund and asset management group Babcock & Brown (ASX: BNB) today announced that it has raised an additional US$335 million of committed capital for infrastructure investment opportunities in the North American markets. This increases the total amount raised for investment in North American infrastructure projects to approximately US$1.4 billion (A$1.5bn).

Babcock & Brown has already successfully invested a portion of the capital raised in the acquisition of an interest in the Natural Gas Pipeline Company of America ("NGPL") and the acquisition of an interest in the ICS ports which closed in December 2007.

Mike Garland, Head of the North American Infrastructure Team at Babcock & Brown said, "The increase in commitments received reflects the growing interest and support from institutional investors for investing with Babcock & Brown in North American infrastructure projects.

"We believe the growing commitments also reflect acknowledgement of Babcock & Brown's strong origination and investment track record in the sector in North America and globally. Babcock & Brown currently has a team of in excess of 147 people working in the North America market focused on origination and asset and investment management. This team is part of Babcock & Brown's global infrastructure team which now exceeds 465 people worldwide."