DIF Capital Partners has raised €6.8bn for its latest infrastructure funds to target a mix of operational and greenfield investments mainly in Europe and North America.
The global infrastructure fund manager said DIF Infrastructure VII (DIF VII) received €4.4bn in capital commitments at close and DIF Core-Plus Infrastructure Fund III (CIF III) closed at €1.6bn, while co-investment vehicles received €800m in capital commitments.
The amounts raised for DIF VII and CIF III exceeded their target fund sizes of €4bn and €1.5bn, respectively. DIF raised €3bn for DIF VI and €1bn for CIF II, the predecessors in the series.
DIF said the funds received commitments from a diverse institutional investor base of more than 110 investors across Europe, the Americas, Asia and the Middle East, including public and private pension plans, sovereign wealth funds, insurance companies, financial institutions, foundations and private wealth investors.
DIF VII targets infrastructure investments, often concession-based or with long-term offtake agreements offering stable and predictable cash flows as well as attractive risk-adjusted returns. Sectors covered are transportation, renewable energy, digital infrastructure and utilities.
CIF III targets investment opportunities with strong growth potential. It focuses on a broad range of infrastructure sectors including digital infrastructure, energy transition as well as sustainable transportation, the manager said.
The funds have so far invested or committed to nine investments each, deploying around 50% of total commitments.
DIF VII’s investments include stakes in French water company Saur, Norwegian electric ferry concessions operator Fjord1, and US solar platform Green Street Power Partners.
CIF III’s investments include interests in German urban fibre roll-out platform Metrofibre, US data centre platform Tonaquint and Rail First, an Australian rail leasing business.
Wim Blaasse, CEO at DIF Capital Partners, said: “We are extremely grateful to our investors for their trust and support, and this successful fundraising reinforces DIF’s leading position in the infrastructure market.”
Gijs Voskuyl, deputy CEO at DIF Capital Partners, said: “An ever-growing demand for infrastructure capital provides an exciting investment opportunity for us, and with our investment track record and experienced teams on the ground across our network of offices in 11 countries, we are confident we can use this capital to take advantage of attractive investment opportunities.”
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