Whitehelm and APG raise €250m

Whitehelm Capital and APG Asset Management have held a first close on the world’s first institutional smart cities fund, the Smart City Infrastructure Fund, at €250 million. Launched with an initial commitment of €250 million from APG, the Fund will focus on investment opportunities in select Smart City infrastructure across Europe, North America, Australia and other major urban areas in the world.

The Fund will invest in the development of independent and open access infrastructure projects leading to the proliferation of Smart City solutions, such as smart lighting, parking, waste collection and pollution control to improve quality of life and have the potential to generate revenues and savings for cities, thus enabling sustainable development of urban areas.