Patrizia has reached almost €1 bn of equity commitments for its Smart City Infrastructure Fund after the latest round of commitments.
The German real assets investor agreed an extra €200 mln from Dutch asset manager APG on behalf of its pension fund client, ABP.
That takes total equity commitments to €950 mln and as much as €1.4 bn when counting a $500 mln co-investment side-car vehicle.
ABP’s new investment is aimed at expanding the fund’s Italian smart streetlighting platform, following the acquisition of three smart street lighting companies in Italy, and its smart city division.
It has taken Patrizia a little less than six years to reach this point having launched the vehicle in November 2018 as one of the first funds globally to target what it calls an emerging asset class.
So far it has put €750 mln of equity to work for investments across Europe and North America.
Source: https://propertyeu.info/Nieuws/APG-backs-Patrizia-fund-with-extra-200m-as-RE-infra-takes-off/5d25cd97-8008-4a4c-a58a-e5671deb46f2, on 06.09.2024