Swiss manager Partners Group has amassed €3 billion for its latest infrastructure programme, including €2.2 billion for its Partners Group Direct Infrastructure 2016 fund and €800 million for separate accounts and other infrastructure vehicles.
The programme – which follows on from Partners Group Direct Infrastructure 2011, closed in mid-2012 – will target renewables, communications and energy infrastructure, “where certain transformative trends have led to outsized pockets of growth,” commented Brandon Prater, partner and head of private infrastructure Europe.
Partners Group’s founders, partners, employees as well as affiliates of the firm have committed more than 4 percent of the funds raised in this latest round.
The fund manager has already committed capital, equivalent to 37 percent of funds raised, to 11 assets, including the Netherlands’ Borssele III/IV 730MW offshore wind farm; an ethylene processing facility in Texas called Raven; and High Capacity Metro Trains, a A$2 billion ($1.6 billion; €1.3 billion) project to design and deliver 65 trains to the state of Victoria, in Australia.
Partners Group started the year on a realisations spree, with three exits in January. They included the divestment of its stake in Japan Solar – a 610MW investment platform it majority owned alongside Equis Energy – to a consortium led by Global Infrastructure Partners; the sale of US solar platform Silicon Ranch to Shell for $217 million; and the sale of a 21 percent stake in the Victorian Comprehensive Cancer Centre in Australia to AMP Capital.