Basalt Infrastructure Partners III (Basalt III) has reached a $2.75 billion hard cap for its third fund, according to media outlets.
Its predecessor, Basalt II, closed in 2018 with $1.285 billion. Basalt II is an infrastructure equity investment fund focused primarily on investments in utilities, energy and transport infrastructure in the United States, Canada and Western Europe.
Recently, the fund entered into a definitive agreement to acquire Xpress Natural Gas and purchased a stake in a residential solar portfolio from funds managed by the infrastructure and power strategy of Ares Management Corporation.
