HOUSE OVERSIGHT 026433 hard cap) to invest into both transportation and social infrastructure projects in Europe. TIIC 2 will also seek to invest, on a very selective basis, into greenfield social infrastructure projects in New Frontier Markets, within close proximity to the European Union. Given its powerful network of relationships across Europe and the operational skills of its team, TIIC Group will continue to target superior investment returns for TIIC 2's portfolio of assets. These returns should be in line with the anticipated returns from the First Fund portfolio which is forecast to deliver a gross IRR of up to 14% and a multiple of approximately 2x on invested capital. TIIC announced the first close of TIIC 2 on December 30th 2016, with aggregate commitments of €135m from a group of high quality and well-diversified limited partners. First close investors in TIIC 2 include the European Investment Bank and Edmond de Rothschild, both with significant commitments, as well as the TIIC team. TIIC 2 is also supported by a number of existing investors, together with several European insurance companies, pension funds and family offices. A second close is planned in the coming months and the final close will occur before the end of 2017. We have received significant interest from a number of European institutional investors, many of which are in the process of completing detailed due diligence on TIIC 2. We are firmly on track to achieve a final close of TIIC 2 before the end of the year. Furthermore, TIIC has announced the first exit from Fund 1, with outstanding returns. Three other investments are in sales processes and should close during the next few months. BRIDGE BRIDGE is an infrastructure debt platform initiated by Edmond de Rothschild Asset Management (EdRAM) to enable institutional investors to access infrastructure assets with secured and stable revenue streams. BRIDGE is a London based second generation debt fund sourcing and stru