Asterion Industrial exceeds fundraising target in less than one year since the launch of inaugural Fund
- The Fund, which was launched on 16th November 2018, has already reached €901m in commitments as of 31st October 2019
- Including co-investment generated alongside the Fund, Asterion today manages in excess of €1.3bn (c. USD 1.5bn)
- Asterion has completed three investments in the Energy Services, Renewables and Data Centre sectors in its first year of operation
- Diverse team of 16 professionals aligned with investment strategy and defined by strong cultural fit
Madrid, 18th November 2019 – Asterion Industrial Partners, an independent investment manager focused on infrastructure investments in Europe, announced today that it has exceeded its fundraising target in less than one year since the launch of its first Fund, Asterion Industrial Infra Fund I, FCR. The Fund, with a target size of €850m, was registered with the CNMV (Comisión Nacional del Mercado de Valores – Spain’s market regulator) on 16th November 2018 and reached €901m in commitments on 31st October 2019. The Fund will remain open for a select number of investors who are currently in the process of completing additional subscriptions. These plan to be finalized before year end, when the Fund will be fully closed to further commitments.
Jesús Olmos, Founding Partner and CEO of Asterion, commenting on the fundraising process said: “we are very honoured to have gained the trust of a very diversified institutional investor base and are thrilled to have exceeded our target within one year, especially with the challenge of being a first-time fund. We are very grateful for the support from all of our investors and are very focused on building long-term active partnerships.”
Asterion Industrial Infra Fund I is one of the largest first-time infrastructure funds ever raised in Europe and also one of the quickest. Investors in the Fund include pension funds, sovereign wealth funds, asset managers, insurance companies and endowments from across Europe, North America, Middle East and Asia.
In addition to the €901m of Fund commitments raised to date, the team has generated c. €400m of co-investment for its investors in two of the three transactions closed in the Fund so far. Including capital in the Fund and through its co-investments, Asterion manages in excess of €1.3bn (c. USD 1.5bn) today.
Asterion Completes Three Investments in its First Year of Operation
During its inaugural year, Asterion has completed three investments fully in line with its 3-pronged investment strategy centred on a focused geographical, sector and mid-market size approach, a strict definition of infrastructure risk, and finally using its industrial approach and active asset management for critical value creation.
The first investment completed by the Fund was Proxiserve, a French company in the energy services space in which Asterion invested in partnership with Mirova, the French infrastructure fund, in March 2019.
Its second investment in Asterion Energies constitutes a renewables platform that is being built up to participate in the ongoing energy transition in Europe today. The platform will be diversified in terms of technologies, geographies and development stages. Asterion has already made initial investments to fund projects in Spain through Iberia Solar and Four Winds, and in France through Prejeance Industrial.
The third investment in the Asterion Industrial Infra Fund I portfolio is a data centres platform, carved out from Spanish telecom incumbent, Telefonica. The acquisition of this platform of 11 data centres with 29MW of power in Spain and Latam, which has now been rebranded as Nabiax, was closed in July 2019.
Best-in-Class and Diverse Team Defined by its Industrial Background and Cultural Fit
Asterion is pleased to announce that Bice Di Gregorio has recently joined the team as a Senior Director. Bice has 13 years of experience including positions at Brookfield.
Asset Management, Goldman Sachs and Deutsche Bank with a special focus on infrastructure. This new addition near completes the team which is now formed of 16 professionals from 9 different nationalities, and in which 50% of the senior investment team are women.
Assembling a team that combines financial experience with industrial and operational expertise has been key for Asterion, as well as ensuring a strong cultural fit and overlapping experience among team members.
Strong Commitment to ESG Integration
Asterion is aware of the great responsibility entailed in the management of third-party capital and of the impact its activity has on the broader economy and society. This puts Environmental, Social and Governance issues at the centre of its approach. Asterion has a strong commitment to integrate considerations around climate change, energy efficiency, diversity, employee well-being, transparency and shared success in the investment process and day-to-day operations. Asterion gives us the opportunity to use the transformational power of investment to make a difference by applying best practices in all ESG matters within Asterion, our portfolio and the wider stakeholder community. Please refer to our website for the latest ESG Framework and Policy Overview (www.asterionindustrial.com).
ABOUT ASTERION INDUSTRIAL PARTNERS
Asterion Industrial Partners is an independent investment management firm focusing on infrastructure investments in the European mid-market. Headquartered in Madrid and with presence in London and Paris, Asterion combines transactional and operational experience with an industrial approach and active asset management within an independent and nimble platform. Asterion aims to promote operational transparency, responsible investment practices, best-in-class governance and a strong culture both for itself and in the companies in which it invests.
The information contained herein is for informational purposes only and does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of an offer to purchase or subscribe for, any securities of Asterion Industrial Infra Fund I, FCR, and is being provided in accordance with rule 135e under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”). The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy interests in Asterion Industrial Infra Fund I, FCR (the “Interests”) or any other security in any jurisdiction and shall, in any circumstance, not constitute an offer, solicitation or sale in the United States or in any jurisdiction in which, or to any persons to whom, such offering, solicitation or sale would be unlawful. The Interests have not been and will not be registered under the U.S. Securities Act, or any U.S. state securities laws, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state and local securities laws. Accordingly, the Interests are being offered and sold (i) in the United States only to qualified investors in accordance with Rule 506 of Regulation D under the U.S. Securities Act and (ii) outside the United States in accordance with Regulation S under the U.S. Securities Act. Although Asterion Industrial Infra Fund I, FCR has no intention to conduct any public offering of the Interests in the United States or to register the Interests under the U.S. Securities Act, any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from Asterion Industrial Infra Fund I, FCR and that will contain detailed information about Asterion Industrial Infra Fund I, FCR, Asterion Industrial Partners, SGEIC, S.A. and management thereof, as well as financial statements.