Igneo Infrastructure Partners is acquiring City Green Light (CGL), a public lighting and smart city operator in Italy, from Marguerite Infrastructure Italy II, FIEE SGR and IPIN 2E for an unspecified amount.

CGL manages around a million lighting points under a portfolio of long-term contracts with over 300 municipalities, providing public lighting and smart city solutions.

Hamish Lea-Wilson, head of Europe at Igneo, said City Green Light represents the tenth portfolio company acquired by the European Diversified Infrastructure Fund III fund, “marking another milestone in the fund’s deployment”.

Lea-Wilson added that Igneo expects to hold the first close for EDIF IV, the next fund in its European diversified infrastructure series, in the second quarter of next year.  

Alex Nassuphis, managing director at Igneo, said: “CGL is a high-quality infrastructure asset with resilient, inflation-linked cashflows.

“We are excited to support its continued growth and contribute to the energy transition through efficient urban infrastructure. We thank Marguerite, FIEE and IPIN who have played a pivotal role in developing CGL into a national champion. This transaction represents a strong outcome for all parties and a promising future for CGL.”

To read the latest IPE Real Assets magazine click here.

Topics