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Private Equity

Partners Group closes €3 billion infrastructure fund

Partners Group closed its Partners Group Direct Infrastructure 2016 at €3 billion ($3.7 billion), exceeding its fundraising target, a spokeswoman said.

"We capped fundraising at €2.2 billion for the actual fund program, cognizant of the €800 million for direct infrastructure raised in parallel outside of the main fund," the spokeswoman said. The original target was not disclosed.

The firm closed the Partners Group Global Infrastructure 2012 fund at €1 billion in early 2014.

The latest fund is committed to 11 investments across a range of projects including a wind farm and a high-capacity metro trains manufacturer.

The $37.6 billion Illinois Municipal Retirement Fund, Oak Brook, was among investors, having committed up to $100 million.

"In the current environment, the sectors we believe offer the most attractive opportunities globally include the renewables, communications and energy infrastructure sectors," said Brandon Prater, partner and head of private infrastructure Europe at Partners Group, in a news release.