Deutsche Asset Management has announced the final close of Pan European Infrastructure II, a closed-end fund focusing on unlisted European infrastructure investments.
The fund raised approximately €1.8 billion ($2.1 billion) from 31 institutional investors globally, with additional dedicated co-investment capital of at least €800 million ($932 million). This brings the total available for investment to more than €2.5 billion ($2.9 billion).
PEIF II has a primary focus on mature brownfield assets. Its strategy is to invest in core Western European economic infrastructure assets across various industry sectors and countries. The aim is to generate steady cash yield with long-term capital appreciation.
The fund has completed three investments to date. These include the acquisition of Akiem, the second-largest locomotive leasing business in Continental Europe; TCR, a leading airport ground support equipment rental and service provider; and most recently a consortium deal to acquire a controlling stake in the Venice Airport Group, SAVE.