A utilities-sector investment trust run by infrastructure specialist Ecofin has raised £108m (€161m) with a share placement, in one of the largest fundraisings in the sector in the past year.

The trust, Ecofin Water & Power Opportunities, swelled its net assets by 31% to £475m. It sold just over 610,000 new shares at 176.6p, 1.8% over the share price as of January 3, the calculation date for the placing.