Ardian has raised €2.65bn for its fourth infrastructure fund.
European, North American and Asian pension funds, insurance companies and sovereign wealth funds backed the Ardian Infrastructure IV fund, along with new capital from US investors.
More than €900m came from new investors.
Last year, the Public Employees Retirement Association of New Mexico told IPE Real Estate it had approved a $60m (€58.9m) commitment to the fund.
Mathias Burghardt, a member of the executive committee and head of Ardian’s infrastructure division, said: “Raising a fund from such an internationally diversified group of investors indicates the dynamism of the European infrastructure market.
“We will seek to invest in infrastructure assets essential for the community, particularly in the energy and transportation sectors, that will deliver long-term and reliable annual yields for investors.”
Approximately €1bn has been invested by the Ardian Infrastructure Fund IV vehicle.
The fund holds interests in 2i Aeroporti in Italy, a Portuguese toll-roll network operator and Repsol’s stake in Spanish and UK oil and storage transportation company CLH.
The fund also owns Géosel, the French strategic oil storage firm sold by Total in September last year.
Dominique Senequier, president of Ardian, said the fund’s raising surpassed the size of its predecessor by 50%.
The company, formerly AXA Private Equity, said the disruptive effect of technology on the sector would require more active asset management.
Ardian Infrastructure now has about $7bn (€6.4bn) in assets under management.