CVC DIF, the infrastructure division of global private equity manager CVC Capital Partners, has plans to acquire iPark, a large-scale Iberian parking infrastructure platform operating across Spain and Portugal, from Elliott Investment Management.
iPark owns and operates a diversified portfolio of more than 30,000 off-street parking spaces across more than 80 facilities, primarily located in urban centers, hospitals and transport-related locations.
The investment will be made through the DIF Infrastructure VIII, a closed-end fund targeting €6 billion ($7 billion) and investing in the renewable-energy, utilities and transport sectors. The fund invests in essential infrastructure assets with long-term, concession-like high-visibility cash flows, which play a critical role in supporting economic activity and urban mobility in Europe.
DIF Infrastructure VIII will support iPark’s next phase of growth by building on its buy-and-build strategy to scale the platform
