Cube Infrastructure Managers is close to reaching a second close on its latest fund, having raised capital from investors that include Maine Public Employees Retirement System (PERS).

The European infrastructure fund manager could hold a second close in September, according to sources that track capital raising, as it seeks to secure €1.2bn for Cube Infrastructure Fund II.

Maine PERS, which committed $44.8m (€39.2m) to the first fund in 2010, will be making a commitment of between $50m and $75m to the new fund.

It has attracted other investors from North America, as well as institutions from Germany and France. It has also secured a €100m commitment from the European Investment Bank.

Cube Infrastructure Managers focuses on regulated, brownfield infrastructure assets primarily in Western Europe.