Fengate Asset Management has closed total capital commitments of $1.1 billion for Fengate Core Infrastructure Fund III and affiliated vehicles, exceeding both its $750 million equity fundraising target and initial $1 billion hard cap.
Fund investors include public and corporate pension plans, insurance companies and funds of funds across Europe, Japan and North America.
Fund III continues Fengate's successful strategy of investing in mid-sized infrastructure assets, emphasizing greenfield projects originated through its exclusive development pipeline and long-standing relationships with contractors, developers and government procurement agencies.
Fund III also selectively pursues brownfield acquisitions where it can achieve its target returns. Fund III is already approximately 50 percent invested in and/or committed to seven assets across North America.
Threadmark Partners served as the fund's global placement agent.