According to Bloomberg and other sources, CVC Capital Partners Ltd. has dropped plans to raise a 2 billion-euro infrastructure fund after struggling to attract investors.

CVC, which started the fundraising in 2008, had pledges from three external backers. Those commitments will be allowed to lapse and the fund wound up, people related to the fund said.

According to Bloomberg, CVC's team of infrastructure executives, led by Stephen Vineburg, will now advise investors on potential targets. CVC will try to get investors to invest on a deal-by-deal basis.

In August 2011, CVC acquired a 1.7 billion euro ($2.24 billion) stake in toll road operator Abertis from Spanish conglomerate, ACS. See other assets that CVC currently has in its portfolio.