London-based credit specialist AlbaCore Capital Group has launched its inaugural infrastructure high-yield debt fund with a €1 billion target. The AlbaCore High Yield Infrastructure Credit Fund was unveiled through a partnership with MUFG Bank and Mitsubishi UFJ Trust and Banking Corporation, aiming to provide international investors exposure to UK and European infrastructure debt.

Viktor Kozel, managing director and head of infrastructure debt at AlbaCore, said the fund targets several hundred million euros for its first close by year-end, with a final close expected within three years. The vehicle will invest in unitranche, holdco and junior debt across European sectors including energy transition, digital, social and transport infrastructure, aiming for high single-digit returns.

The launch comes as AlbaCore expands beyond its existing credit verticals of corporate, structured and private credit. The firm has been seeded with an unspecified anchor investment from Mitsubishi UFJ Trust Bank. AlbaCore manages $10.4 billion in assets and recruited Kozel and three team members from UBS Asset Management's infrastructure debt team in September 2025 to establish its infrastructure debt platform.