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Laxman Pai, Opalesque Asia: European infrastructure-focused manager Asterion Industrial Partners closed its latest European infrastructure fund, Asterion Industrial Infra Fund II, at €1.5 billion ($1.7 billion), exceeding its €1.35 billion target.
Asterion Industrial Infra Fund II FCR was registered within Spain's National Securities Market Commission (CNMV) in February 2021, only eight months before, said a press release from the investment management firm.
The Fund's €1.5bn in commitments span across 39 investors globally. Among the fund's 39 investors is the $10.4 billion Wyoming Retirement System, Cheyenne, which committed $20 million.
The fund, which has finalized its active fundraising activities but reserves a right to accept a selected, additional number of investors before the end of the year, focuses on middle-market infrastructure investments in western Europe.
The strategy targets the telecommunications, energy, utilities, and mobility sectors in France, Italy, Portugal, Spain, and the U.K.
As of today, Asterion Fund II has already completed two investments and has a robust pipeline. The first two investments are in Barter Energy, the solar collective self-consumption company based in Spain, a build-up as part of the Energy Transition Solutions (ETS) platform, and Retelit, the Italian independent fiber operator for which the tender offer was successfully completed earlier this month and is in the process of being delisted.
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