European mid-market infrastructure fund manager Cube Infrastructure Managers has raised an initial €587m for its latest core-plus strategy.
The first close for Cube Infrastructure Fund IV includes co-investment commitments as the manager targets a final fundraise of €1.5bn.
The latest fundraise follows the final close of its predecessor, Cube Infrastructure Fund III, which closed in September 2023 at €1.35bn alongside €150m in co-investment commitments.
Cube IV continues the firm’s core strategy of targeting European brownfield, resilient infrastructure platforms across the energy transition, telecoms, transport and environmental services sectors.
Renaud de Matharel, chairman and CEO of Cube IM, said: “Reaching this first close is an important milestone for Cube IV, and we are grateful to our investors for the confidence and support they have placed in Cube IM. We believe the European infrastructure mid-market remains particularly attractive in the current environment, with significant investment needs driven by the energy transition, digitalisation and the development of essential local infrastructure.
“Cube IV builds on the experience and investment approach developed across our successive fund generations, and we look forward to deploying its capital and supporting the growth of high-quality infrastructure platforms across Europe.”
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