Cube Infrastructure Managers successfully closes its Management Buy Out

On December 22, 2015, the management team of Cube Infrastructure Managers (Cube IM) acquired from Natixis Global Asset Management all the outstanding shares it owned in Cube IM. Cube IM is the management company of Cube Infrastructure Fund (CUBE). As a result of this management buy-out (MBO), the management team now owns 100% of Cube IM.

The shares were acquired by Cube Infrastructure Partners (CIP), a holding company owned by the four Managing Partners of Cube IM and by other members of the management team, as well as by the four Managing Partners directly. CIP previously held a minority stake in Cube IM alongside Natixis Global Asset
Management. The MBO will allow Cube IM to successfully continue its development and to launch Cube Infrastructure Fund II (CUBE II), a successor fund to CUBE within the infrastructure space.

Natixis Global Asset Management has decided to sell its shares in Cube IM as a consequence of the recent changes in banking regulations (Basel III, Volcker Rule,…), which impede banks from holding sponsor roles in non-listed private-equity funds. Cube IM (Cube IM) is a Luxembourgian management company incorporated in 2007, which manages CUBE in its capacity as regulated alternative investment fund manager (AIFM). CUBE is a €1.08 billion Luxembourgbased European brownfield infrastructure fund closed in 2010, which has become a leader in the energy efficiency (district heating, waste to energy and renewable energy), fiber telecommunication and public transport markets. These markets offer sustainable growth principally driven by deregulation and/or market consolidation needed to improve the efficiency of infrastructure & public services. CUBE has taken in each of these markets control or co-control positions in mid-caps with highly competitive runner-up positions and has developed their potential through organic growth and synergetic add-on investments. CUBE is financed by 23 limited partners from Europe and North America. CUBE II, the successor fund of CUBE with a similar investment strategy and a similar target size, is expected to reach a first close in the early months of 2016.