First State Investments (First State) has launched its third infrastructure fund, European Diversified Infrastructure Fund (EDIF III), after the success of its EDIF I and EDIF II funds. 

The EDIF III follows the same investment strategies of the EDIF I and EDIF II and will invest in unlisted infrastructure assets, which builds a portfolio of established infrastructure assets. The focus is on Europe and the energy, transportation, and supply sectors.

The Fund target volume is EUR3.5 billion (US$3.87 billion) that is expected to be achieved after three to five financing rounds. These rounds of financing are designed to ensure a targeted investment strategy while allowing capital to be made available quickly for investment.

Currently, the EDIF team manages a portfolio of assets across Europe, including Anglian Water, Caruna, Coriance, Electricity Northwest, Ferngas, Finerge, Forsea, OLT, Parkia, Scandlines, Swedegas, Utilitas and Weum.