Igneo raises more than €4bn for European infrastructure fund

Igneo Infrastructure Partners has raised €4.1bn for its European Diversified Infrastructure Fund III (EDIF III) and secured approximately €2.1bn of potential co-investment commitments from 55 institutional investors.

Investors in previous funds in the EDIF series represent 63% of commitments, and some 62% of commitments were made by European institutional investors. The rest came from Asian, Australian and North American investors.

EDIF III has a hard cap of €5bn and a further round of fundraising is expected.

Igneo said the staggered fundraising was designed to ensure focused investment discipline while delivering rapid deployment of investors’ capital. It has already deployed €2.7bn across the five assets.

The funds in the series target European mid-market, sustainable, mature, economic infrastructure assets in the energy, transportation, utility and telecommunications sectors.

EDIF III’s portfolio is comprised of: Enfinium, a UK energy-from-waste platform; Finerge, an Iberian renewables generator; EVOS, a pan-European liquid-energy storage platform; Westconnect, which owns German fibre-optic networks; and DAH Gruppe, a German biogas producer.

Niall Mills, managing partner and global head at Igneo, said: “Despite the challenges of the past 18 months, we are very proud that our philosophy of responsible investment-led proactive asset management has continued to deliver long-term sustainable value for our investors.

“Globally, our business continues to grow from strength to strength, with our European and global portfolios delivering strong performance over 2023 and continuing to grow via several transactions across Europe as well as in the US, Australia and New Zealand.”

Stephen O’Shea, head of investor relations and consultant engagement at Igneo, said: “We are extremely grateful to all of our investors whose continued trust and support for our latest fundraising allows us to continue to source, acquire and proactively manage high-quality European infrastructure businesses.”

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