Cube Infrastructure Fund III reaches €1.0 billion first close

• Cube Infrastructure Fund III has reached total commitments of €1.0 billion in its first close, the fund has a target size of €1.5 billion.
• Cube III will continue to build on the proven investment strategy of the predecessor funds, through its focus on strategic and essential infrastructure mid-market opportunities across Europe.
• Since its creation, Cube Infrastructure Managers has successfully made more than 30 investments across Europe through its funds under management.

Luxembourg, September 21, 2021 – Cube Infrastructure Managers (Cube), a leading infrastructure investment manager, announces it has successfully reached the first close of its third and largest flagship fund Cube Infrastructure Fund III (Cube III), with total commitments of €1.0 billion, accounting for more than 65% of its €1.5 billion target.

Cube III will invest in the continuity of its predecessor funds Cube I and Cube II with the objective of generating a combination of sustained yield and capital appreciation through investments in the European brownfield mid-market infrastructure space, with a particular focus on the energy transition, communication and public transport sectors. Cube’s investment strategy addresses essential and local infrastructure needs, in markets offering strong downside protection and sustainable and attractive growth dynamics underpinned by the energy and demographic transitions as well as the digital transformation of our economies.

Cube III was launched in the first half of 2021. Its first closing is a clear success, securing capital from both existing and new investors, including European, North American and Asian public as well as private pension funds, insurance companies and large asset managers. The fund has a strong re-up rate and has also had a strong push in the US. This demonstrates continued investor support and confidence in Cube’s capacity to generate long-term value creation through a differentiated investment strategy and consistent focus on the mid-market.

Renaud de Matharel, CEO and Managing Partner of Cube IM said: “We are extremely proud to have reached a first close at €1.0 billion for our third-generation mid-market fund. It demonstrates investors strong appetite for the mid-market and I take this opportunity to sincerely thank our LPs for their continued support and to welcome our new investors. We believe that Cube III is strategically positioned in a dynamic market, our investment team is ready to invest in opportunities that have the potential to leverage on the megatrends we are observing and to scale up thanks to their strategic positioning and solid management teams.”

About Cube Infrastructure Managers

Founded in 2007, Cube Infrastructure Managers is an independent management company, focusing on investments in the European infrastructure space addressing the essential infrastructure needs of local public authorities and populations, and fully consistent with its ESG commitments. Cube Infrastructure Managers has raised an aggregate €3.7 billion and manages four funds. Cube Infrastructure Fund, Cube Infrastructure Fund II and Cube Infrastructure Fund III are focusing on investments in regulated, brownfield infrastructure and target mainly three strategic markets, Public Transport, Energy Transition and Communication Infrastructure, with a “Buy & Grow” strategy. The Connecting Europe Broadband Fund is a fund dedicated to investment in broadband infrastructure projects. Since its creation, Cube has successfully made more than 30 investments across Europe, and will continue to invest in profitable and responsible investment opportunities with strong growth potential.