Europe-based infrastructure investment major DIF Management has raced past its hard cap for its fifth unlisted infra fund to close the vehicle on €1.9bn.
The firm was initially hoping to raise up to €1.5bn for DIF Infrastructure Fund V, but outdid even its €1.75bn hard cap thanks to oversubscription from backers including top-tier pension funds, insurers and funds of funds.
AltAssets revealed last month that DIF had picked up a $50.5m commitment from Arkansas Teacher Retirement System.
DIF said Fund V was a continuation of the strategy it had launched in 2005, with a primary focus on long-term investment opportunities within core, low-risk infrastructure projects.
That has included public-private partnerships, regulated assets, and long-term contracted renewable energy assets across Europe, North America and Australasia.
The firm held a €1.15bn final close for DIF Infrastructure IV two years ago, beating its €1bn target after just two months on the road.
DIF managing partner Wim Blaasse said, “I am extremely proud of this achievement, which is a testament to the strength of the DIF platform.
“Over the past 13 years the team has been able to generate attractive returns for our investors by consistently investing in high quality projects, enhancing project value during our ownership through active shareholder engagement, as well as by achieving successful realisations.
“I am confident that we will continue to be successful in our chosen strategy, leveraging our unique global office network and dedicated local teams to complete attractive investment opportunities.”
Eaton Partners acted as the placement agent for the fundraise.
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