Asterion Industrial Infra Fund I to achieve first close at over US$500 million
Asterion Industrial Infra Fund I is expected to reach its first close shortly. It was launched by Asterion Industrial Partners in September 2018 with a target of EUR850 million (US$963.0 million) and has already reportedly raised nearly EUR450 million (US$509.8 million).
The fund will invest in European infrastructure assets in the energy, telecommunication, transport, and utilities sectors. Its investment strategy is thought to be single equity investments of between EUR75 and 100 million (US$85.0 and 113.3 million). Should the fund wish to invest larger amounts, it will co-invest with LPs. The target internal rate of return for the fund's investments is set at between 10 and 13%.
Madrid-based Asterion Industrial Partners is reportedly aiming to reach the fund's EUR1 billion (US$1.13 billion) hardcap by the summer.
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