Vauban Infrastructure Partners has raised €2.5bn in total for its third core infrastructure fund after receiving capital commitments from investors including pension funds and insurance companies.
The Paris-based infrastructure asset manager said the amount raised for Core infrastructure Fund III SCS (CIF III) exceeded the fund’s hard-cap target due to demand from investors.
CIF III, which was significantly over-subscribed, attracted international investors from 12 different geographies across Europe and Asia, the manager said.
Vauban said CIF III will investing in predominantly brownfield mid-market opportunities in Europe with a focus on four main sectors: mobility, energy transition, social infrastructure and digital infrastructure.
Vauban said the fund has already closed four transactions in Italy, Spain and France. Two co-investment vehicles have also been structured alongside CIF III in order to invest in Vauban’s fibre investment platform in France and in the Spanish public-private partnership and concessions portfolio purchased from FCC.
Gwenola Chambon, the CEO and founding partner of Vauban Infrastructure Partners, said: “The strong re-up rate we achieved from historical investors in Vauban’s funds shows the level of trust that we have managed to build over time.
“Additionally, the strong traction that we received from new investors for this fundraising is a nice tribute to our team’s track record of efficient sourcing, investing and actively managing core infrastructure assets of a great quality.”
Mounir Corm, deputy CEO and founding partner of Vauban Infrastructure Partners, said despite the challenges of the Covid-19 crisis, the fundamentals of the European infrastructure market are very strong and core infrastructure has resiliently weathered this storm.
“The underlying trends - digitalisation, carbon emission reductions, enhancement of legacy infrastructure – supporting core infrastructure investment flows across Europe are in constant growth and supported by the EU Commission Green New Deal.
“They represent a unique opportunity for infrastructure investors and a strong pipeline potential for CIF III.”
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