Luxembourg, September 4, 2023 – Cube Infrastructure Managers (“Cube”) is pleased to announce the final close of its Cube Infrastructure Fund III (“Cube III“) with total fund commitments of €1.35 billion and additional co-investment commitments of approximately €150 million. Following a first close of €1 billion in September 2021, the final close marks the largest fund Cube has ever raised.
Cube III is the successor fund to Cube Infrastructure Fund II (“Cube II”), which closed at €1 billion of total commitments in June 2019. Like its predecessor, Cube III has the objective of generating regular yield and long-term capital appreciation through investments in the European brownfield infrastructure space.
The fund boasts a well-diversified, global investor base of existing and new institutional investors from North America, Europe, Asia and the Middle East.
Fully aligned with Cube’s ESG commitments, Cube III builds on the successful investment strategy of Cube II, focusing on high-growth sectors underpinned by technological, environmental and social megatrends. It aims to address the essential infrastructure needs of local communities in markets offering strong downside protection and attractive growth dynamics.
Cube III made its first investment in October 2021 and has since invested approximately €700 million in 11 high-quality assets that demonstrate significant growth potential and strong positioning in their respective markets. Current portfolio companies include: energy transition companies ENETIQA, Norsk Vannkraft and GRECO; datacenter operators firstcolo and GleSYS; waste management companies Sepur and RiverRidge; transport logistics platforms Dispam and Müller Transporte; and EV charging network operators Kople and Stations-e. Cube III has also recently signed an agreement to acquire Urbaser Nordic, a leading waste collection platform in Scandinavia.
Renaud de Matharel, CEO and Managing Partner of Cube Infrastructure Managers, commented: “We’re thrilled to share the news of this successful milestone for our Cube III fund. We thank our existing and new investors for their continued support. Since foundation, Cube has leveraged its operational and financial capabilities to pioneer and transform essential and local infrastructure assets. We’re proud to continue our successful investment strategy and look forward to delivering high-quality infrastructure assets in the rapidly evolving European mid-market space.”
About Cube Infrastructure Managers
Cube Infrastructure Managers is an independent mid-market infrastructure investor joining deep sector knowledge with operational and financial expertise. Since inception in 2007, Cube has leveraged its operational and financial capabilities to pioneer and transform essential and local infrastructure assets, in areas such as fiber, district heating, mobility and EV charging. The firm delivers essential infrastructure assets to local communities and authorities, driving significant growth across its portfolio. Cube has raised an aggregate €4.2 billion and manages four funds. Cube Infrastructure Fund, Cube Infrastructure Fund II and Cube Infrastructure Fund III are focusing on investments in regulated, brownfield infrastructure. The Connecting Europe Broadband Fund is a fund dedicated to greenfield investments in broadband infrastructure projects. Since its creation, Cube has successfully made more than 40 investments across Europe and will continue to invest in profitable and responsible investment opportunities with strong growth potential.