M&G's Infracapital has closed on €1.5 billion ($1.7 billion) for its latest greenfield infrastructure investment strategy, which will invest in sustainable infrastructure in Europe.
Existing investors provided more than 75 percent of the capital raised for the strategy, with new investors also joining from the United Kingdom, continental Europe, Asia, North America and the Middle East.
The strategy, which seeks to build, deliver and operate essential and sustainable infrastructure across Europe, already has allocated more than 50 percent of the capital to five businesses that are either involved in the energy transition and decarbonization, or provide fiber connectivity to underserved regions.
The five portfolio companies include Zenobe, a European battery storage operator; Fibrus, an Irish broadband provider; Spectrum, a telecoms company responsible for rolling out high-speed broadband in underserved areas of South Wales; EnergyNest, a Norwegian thermal b
