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Partners Group backs Cube Infrastructure(2)

The Swiss alternative asset manager is one of four limited partners to commit to the Paris-based infrastructure manager as it prepares to reach a second close on about €500m later this month. The firm is targeting €1bn in total commitments, with a hard cap of €1.5bn.

Swiss alternative asset manager Partners Group is set to back European infrastructure fund Cube Infrastructure as the latter readies for a second close on about €500 million by the end of the month.

Henri Piganeau, managing partner of Paris-based Cube, told InfrastructureInvestor that Partners Group will be among four new investors that Cube has brought into the fund. The second close is expected to be completed by the end of the month, Piganeau said.

He declined to name the fund’s other new investors but he said that they come from Canada, Germany and France. A spokesperson for Partners Group declined to comment.

Launched in 2007, Cube infrastructure is targeting €1 billion for its fund, which targets existing, or brownfield assets, across Europe. The fund’s hard cap, or the maximum amount it can raise, is €1.5 billion, Piganeau said.

To date, the firm has invested €250 million of its capital across five assets. These include Isalink, a subsea telecommunications cable in Spain; Saur, a French water supplier; Solarium, a solar wind farm joint-venture in Spain; CNIM DEV, a waste energy power plant owner and manager and the Eurotunnel, the concession company operating the rail tunnel linking the UK and France underneath the English Channel.

Cube is managed by a subsidiary of French investment bank Natixis, which has committed €250 million to the fund.

Partners Group is an alternative asset management firm with over CHF 24 billion ( €16.5 billion; $24.3 billion) in investment programs under management in private equity, private debt, private real estate, hedge funds, listed and other alternative investments, according to its website.