Cube Infrastructure Managers raises €1.04bn

The independent Luxembourgian management company has closed its second fund slightly below target.

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.

Other LPs include the Maine Public Employees Retirement System and Denmark’s Nykredit Asset Management.

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.