European mid-market infrastructure fund manager Cube Infrastructure Managers has raised €1.35bn for its third fund.

The manager said Cube Infrastructure Fund III (Cube III) also received €150m in additional co-investment commitments at its final close.

The predecessor fund, Cube II, raised €1bn at its close in June 2019.

Cube Infrastructure Managers said the fund has a global investor base of existing and new institutional investors from North America, Europe, Asia and the Middle East.

The manager said Cube III, which made its first investment in October 2021, has since invested approximately €700m in 11 assets.

Cube III’s current portfolio companies include Austrian temperature-controlled logistics operator Müller Transporte, French temperature-controlled logistics operator Dispam,  Nordic data centre operator GleSYS, German data centre business Firstcolo Datacenters and MVV Energie CZ, a producer and distributor of heat in the Czech Republic.

Most recently, Cube III announced the acquisition of Urbaser Nordic, a municipal waste collection platform in the Nordics.

Renaud de Matharel, CEO and managing partner of Cube Infrastructure Managers, said: “Since its foundation, Cube has leveraged its operational and financial capabilities to pioneer and transform essential and local infrastructure assets.

”We’re proud to continue our successful investment strategy and look forward to delivering high-quality infrastructure assets in the rapidly evolving European mid-market space.”

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