The German asset manager has raised more than half its final target for its sophomore global diversified fund, achieving a 60% re-up rate to date and having deployed more than 90% of Fund I.
The new firm will seek to raise $1.5bn to invest across a range of subsectors, including water treatment, waste management, decarbonisation ‘anything that leads towards a net-zero economy’ Astarte’s Siokos says.
With a tally that amounted to roughly 40% of 2021’s full-year total, Q1 will be a tough act to follow, setting high expectations for 2022.
A new USD-denominated fund is thought to be planned for later this year, after QIC raised a further A$1bn for its first vehicle in October.
The firm, which closed its last fund on $301m in 2018, drew in LPs as they embraced its growth investment strategy, founder Emil Henry says.
ASF VIII Infrastructure has already invested 30% of its capital, including acquiring a $1.5bn portfolio offloaded by insurer Northwestern Mutual.
The group’s third fund more than doubles the $7bn raised by its predecessor, itself a more than doubling of the $3bn raised by Fund I.
The Article 9 vehicle has already invested more than half of the €1bn it is initially targeting in a 1GW portfolio spanning Europe and the Americas.
The firm hopes the energy transition vehicle will reach a final close in the next 12-18 months with a first deal due this year.
We reveal the most oversubscribed closes, analyse what they mean for the market and highlight what LPs should be wary of.