Smart Infrastructure Managers (SIM) and real assets-focused investment firm Astarte Capital Partners intend to invest more than $1bn (€826.9m) in smart infrastructure opportunities across North America and Europe.

The companies have formed a joint venture to seek core-plus and value-add opportunities, with an initial focus on “the transport and energy sectors, but can also target opportunities in water, waste, and social infrastructure”.

The newly created venture will target investments in a wide range of sub-sectors, such as power grid management, electric vehicle infrastructure, digital air traffic control, smart parking and transit, battery storage and smart lighting

The venture will seek to create value by optimising infrastructure assets with smart technology solutions and digital business models, the companies said in a joint statement.

Robert Mah, managing partner of Smart Infrastructure Managers, said: “Smart Infrastructure Managers is excited to partner with Astarte, who we believe are true innovators in the private markets space, combining broad institutional reach, accretive in-house resources and commitment to sustainable investing.

“We share a mutual belief that the rapidly emerging smart infrastructure space represents a significant and transformational cross-over investment opportunity.”

Stavros Siokos, co-founder of Astarte Capital Partners, said: “Smart infrastructure is a growing area with vast potential, as well as an important driver of sustainability – with significant environmental, social, and governance benefits and best practices.

“We are confident that SIM’s infrastructure investing experience, and focus in this field, combined with our shared commitment to sustainable business practices and ESG, will allow the joint venture to capitalise on the unique opportunities this industry offers.”

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