Cube Infrastructure Managers (Cube) has announced that its Cube Infrastructure Fund III (Cube III) has reached the first close, with total commitments of EUR1.0 billion (US$1.17 billion).

The fund has a target size of EUR1.5 billion (US$1.76 billion), of which 65% is already achieved. Launched in the first half of 2021, Cube III has secured capital from both existing and new investors, including European, North American and Asian public as well as private pension funds, insurance companies and large asset managers. 

Cube III will invest in the European brownfield mid-market infrastructure space, with a particular focus on the energy transition, communication and public transport sectors. The aim is to generate a combination of sustained yield and capital appreciation, addressing at the same time essential and local infrastructure needs.