Addleshaw Goddard advises Asterion on €3.4bn Infrastructure Fund Closing
Addleshaw Goddard has advised Asterion Industrial Partners on the final closing of its third infrastructure fund, Asterion Industrial Infra Fund III FCR, securing total investor commitments of €3.4 billion.
The fund surpassed its original €3.2 billion target, completing the fundraising process in less than 18 months from its registration with the CNMV—well ahead of the industry average, which typically exceeds two years.
Fund III will target mid-market infrastructure opportunities in Western Europe, with a particular emphasis on telecommunications, energy, utilities, and mobility across Asterion’s core markets: the UK, France, Spain, Portugal, Italy, Germany, and Ireland. The strategy combines strict risk management with a strong industrial approach and value creation across all stages of the investment cycle.
Diverse and loyal investor base
As with its previous funds, Fund III attracted commitments from a broad range of institutional investors, including pension funds, sovereign wealth funds, asset managers, and insurance companies across Europe, North America, the Middle East, and Asia. The closing achieved an 86% re-up rate from existing investors, while also bringing in new global institutions. In addition, Asterion’s own team contributed approximately 3.5% of the total capital.
The Addleshaw Goddard team advising Asterion was led by Funds partners Isabel Rodríguez and María de Orueta, alongside Gonzalo Lozano, with support from associates María Mata and Lara Taylor on regulatory matters and Covadonga Pérez on tax aspects
