More than 70 investors have backed DWS to raise €3bn for its third European infrastructure fund.
The manager said the amount raised for Pan European Infrastructure (PEIF III) at close exceeded the fund’s €2.5bn fundraising target.
The PEIF III fund, launched in 2019, was backed by new investors as well as existing investors in the previous funds in the PEIF series. The predecessor fund raised €2.5bn in 2017
The investor base reflects a wide net of global and blue-chip investors from across Europe (Germany, Italy), Asia (South Korea, Japan) as well as the US, DWS said.
Hamish Mackenzie, the head of infrastructure at DWS, said: “We are thrilled to achieve the final close of PEIF III, following on from PEIF and PEIF II which are currently ranked as top quartile funds.
“Our distinctive investment approach for our European strategies focuses on mature infrastructure assets in Europe and allows us to leverage the experience, expertise and successful track record of our investment team.”
Harold d’Hauteville, the head of infrastructure equity, Europe at DWS, said: “Our investment focus on the key macro-economic trends of decarbonisation and digitalisation of the economy has proven its relevance in the current Covid crisis.
“We will continue to progress a robust pipeline with a consistent focus on the sectors that will further contribute to the long-term recovery and the sustainability of our economies.”
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