Deutsche Asset Management Raises €1.8B For New European Infrastructure Fund

Jul 26 2017 | 7:12pm ET

Deutsche Asset Management has raised approximately €1.8 billion in capital commitments for its second closed-end European infrastructure fund.

The new fund, named Pan European Infrastructure II L.P., will focus on unlisted European infrastructure investments, the company said in a statement. The fund attracted commitments from 31 institutional investors from 15 nations, 26 of which are new to the company and eight of which committed more than €100 million apiece. Pension funds and insurance companies accounted for 40% each and represent the largest categories of investor; the remainder comprises banks, asset managers and funds of funds.

With additional dedicated co-investment capital of at least €800 million, the total available for investment is more than €2.5 billion.

The fund will invest primarily in core Western European economic infrastructure assets across various industry sectors and countries, and has made three investments to date. The aim is to generate steady cash yield with long-term capital appreciation, Deutsche AM continued. 

“Europe is the most developed private and public infrastructure market and we believe our team has the discipline, relationship network and extensive experience to access and manage this deal potential for our investors,” said Hamish Mackenzie, Head of Infrastructure at Deutsche AM. 

Deutsche Asset Management’s infrastructure investment business has been investing in infrastructure assets since 1992. The global platform, which covers private equity infrastructure, listed infrastructure and infrastructure debt, provides access to such economic sectors as transportation, utilities, telecommunications, and other service sectors critical to the basic functioning of local and global economies. As part of the Alternatives platform, the company’s infrastructure business has €19.5 billion in assets under management. 

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