Asterion raises US$1.7 billion for Europe infrastructure fund

Asterion Industrial Partners has announced the close of its latest European infrastructure fund, Asterion Industrial Infra Fund II. The fund, which closed at €1.5 billion (US$1.7 billion), exceeded its €1.35 billion target according to a press release issued by the firm Wednesday.

As it stands, the fund has completed and closed its active fundraising exercise. However, it retains the right to receive a defined number of additional investors and investments before the close of the year. 

The fund’s priority as far as location is concerned is Europe, particularly western Europe where it seeks out middle-market infrastructure investments.

The fund’s strategy involves specifically targeting specific sectors, including the telecommunications, energy, utilities, and mobility sectors in France, Italy, Portugal, Spain, and the U.K.

The fund received commitments from 39 investors, among whom was Cheyenne, the US$10.4 billion Wyoming Retirement System, which committed $20 million. The first installment of the fund Asterion Industrial Infra Fund I closed in 2020 at €1.1 billion.