First State Investments is seeking €3.5 billion ($3.8 billion) in capital commitments for its newest infrastructure fund, the European Diversified Infrastructure Fund (EDIF) III.
The firm could not be reached to comment on its fundraising efforts.
The fund will follow the same investment strategy as its two predecessors, investing in core and core-plus infrastructure assets in Europe, such as energy, utility and transportation sectors, according to media sources. The firm invests directly in mid-sized, infrastructure assets that generate inflation-protected income over a long investment horizon.
The previous fund in the series, EDIF II, closed with €2.6 billion ($2.8 billion) in capital commitments from global institutional investors in July. The first fund closed in 2015 with €2 billion ($2.2 billion).
First State Investments manages $156.3 billion on behalf of clients, including institutional investors, pension funds, wholesale distributors and platforms, financial advisers and their clients.
