Asterion Industrial Partners, an independent investment management firm focused on European infrastructure in the mid-market, announced that it has reached the first close of its Fund III.

Asterion Industrial Infra Fund III has secured EUR 1.5 billion (US$ 1.6 billion) in commitments, reaching 50% of its EUR 3.2 billion (US$ 3.47 billion) target. Investors include pension funds, sovereign wealth funds, endowments, asset managers, and insurance companies from Europe, North America, the Middle East, and Asia. The fund focuses on mid-market companies in the telecom, energy, utilities, and mobility sectors in the UK, France, Italy, Spain, and Portugal. Key sustainability aspects of Asterion's investment strategy include decarbonization, energy efficiency, energy transition, bridging the rural digital divide, diversity and inclusion, alignment of interests, and shared success. With the first close of Fund III, Asterion will continue its industrial approach to mid-market infrastructure investments in Europe. 

With the first closing of Asterion Industrial Infra Fund III, Asterion announced the acquisition of a 49% stake in 2i Aeroporti, a major Italian airport operator. 2i Aeroporti is Italy's largest airport platform, managing concessions for eight key airports, including those in Milan and Naples. These concessions have an average remaining life of 24 years and account for about 40% of Italy's national air traffic. This investment enhances Asterion's presence in Italy and marks its first investment in the mobility sector for Fund III.