Cube Infrastructure Managers has concluded fundraising for its second fund, closing slightly below target on €1.04 billion. The vehicle targets investments in the energy transition, telecoms and public transport sectors.
The Luxembourg-based firm launched the fund in 2016 with a target of €1.2 billion and reached a first close in September that year on €358.5 million, with the European Investment Bank committing €100 million.
Cube’s close of its second fund comes almost exactly nine years after it closed its maiden vehicle on €1 billion. At the time, it was still part of French bank Natixis before a management buyout in 2016.