Fundraising

In November, Washington State Investment Board committed $175m to the fund, with an additional $75m of co-investment capital.

The fund has sub-vehicles investing in asset classes such as PE, debt and infrastructure, each of which can commit 30% to secondaries.

The firm has already raised €500m from European investors and will now pitch the vehicle to Australian LPs.

The UK-based manager believes mid-size infrastructure companies ‘have typically not received the full attention of their previous owners’.

The firm’s fourth flagship vehicle exceeded its $17bn target and is already 40% deployed, with $3.6bn invested in digital infrastructure.

The fund, launched by the founders of Equitix, is seeking at least £200m which will also look to invest in renewable energy equity and debt.

The German manager intends to keep its third instalment at a similar size as it seeks to maintain its current strategy.

The French manager is already targeting the launch of its fifth instalment this year, with the fund 65% invested.

The energy-focused vehicle will have a similar strategy to the firm’s previous fund, which is now fully invested.

The fund, which could reach $1bn, will feature a $100m first-loss tranche from government institutions. It will invest in low-carbon assets, with at least 25% invested in Africa.