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DWS closes latest European infrastructure fund at $3.7bn hard cap

Wednesday, June 09, 2021

Laxman Pai, Opalesque Asia:

German asset management company DWS Group closed its third European infrastructure fund at its €3 billion ($3.7 billion) hard cap and ahead of its €2.5 billion target.

The manager said the Pan European Infrastructure (PEIF III) was backed by new investors as well as existing investors in the previous funds in the PEIF series.

"The 70-odd 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 United States. DWS achieved this successful close despite restrictions caused by the pandemic with much of the fundraising effort conducted remotely," said the release.

Investors include the $67.9 billion Los Angeles County Employees Retirement Association, Pasadena, Calif.

"Our investment focus on the key macroeconomic trends of decarbonization and digitalization of the economy has proven its relevance in the current COVID crisis," said Harold d'Hauteville, head of infrastructure equity, Europe, in the news release. "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."

Hamish Mackenzie, the head of the 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 o......................

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