Whitehelm Capital and APG Asset Management, acting on behalf of pension fund client ABP, have closed the second funding round of the Smart City Infrastructure Fund (SCIF).
SCIF fully committed the initial €250 million ($296 million) of funds from cornerstone investor APG to a range of smart city–enabling infrastructure projects. APG has confirmed a commitment of an additional €500 million ($592 million) to SCIF, enabling it to invest in smart city infrastructure opportunities on a global basis. It was one of the first funds globally to target this emerging asset class.
This brings the total fund size to €750 million ($889 million).
SCIF launched in November 2018 to invest in smart city–enabling infrastructure, such as connected street lighting, advanced building management, smart utilities and sustainable urban mobility.
“We believe that smart city solutions will play a key role in improving the efficiency and sustainability of the world’s c