Listed infrastructure fund International Public Partnerships (INPP) has raised £330m (€391m) on the London Stock Exchange.

The placing by INPP, owned by Amber Infrastructure and invested in the Thames Tideway Tunnel and , was oversubscribed by existing investors.

INPP originally aimed for a £250m capital raise.

Rupert Dorey, chairman of INPP, said: “The significant oversubscription of INPP’s latest capital raising demonstrates the continued demand for the company’s investment case, in providing shareholders with predictable, long-term and substantially inflation-linked returns from investment in long-term assets.�

The trust, he said, continues to offer shareholders a “highly visible and balanced pipeline of new opportunities, the outlook for which remains strong�.

Proceeds will be used to pay down debt.