The Jersey-listed open ended investment company opened an initial offer period in June closing July 30, targeting £100m and an annual net return of 8 per cent.
Gravis extended the closing date to August 7 to enable further interested parties to invest.
Subscriptions and redemptions will be quarterly thereafter, starting in September.
The fund invests in Government private finance local and national infrastructure projects such as hospitals and school.
Gravis would not disclose the capital raised but partner Ronan Kierans says it has been sufficient to advance a loan against four hospitals owned by Grosvenor PFI Holdings.
He says there is a very strong pipeline for further PFI projects in the education and waste sectors.
The fund will look to list on the London Stock Exchange’s specialist fund market towards September 2010 once it has reached critical mass.
Kierans says: “That will open us to more institutional investors and to smaller investors because there will be daily liquidity on the LSE.”
Leading Edge Adviser Forum chairman Ben Stevens says: “We view this as a time limited opportunity which may disappear once institutions start to lend again. As these are predominantly longer term contracts, with an element of inflation protection, we see GCP as an attractive proposition for medium to long term investors who are risk averse.”