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DIF closes latest infrastructure fund at €1.9 billion, exceeding its target

DIF closed its latest infrastructure fund, DIF Infrastructure V, at €1.9 billion ($2.3 billion), surpassing its €1.5 billion target, said Allard Ruijs, partner and head of investor relations and business development at the European independent specialist infrastructure manager.

The fund's hard cap target was set at €1.75 billion. "We closed at an increased hard cap of €1.9 billion with significantly more interest (from investors)," Mr. Ruijs said.

Investors in the fund include the $16.1 billion Arkansas Teacher Retirement System, Little Rock, committing €41 million.

DIF Infrastructure V targets equity investments in public-private partnerships, concessions, regulated assets and renewable energy projects. The fund also invests in greenfield and brownfield projects in Europe, North America and Australasia.

Predecessor funds DIF Infrastructure IV closed at €1.15 billion in 2015 and DIF Infrastructure III, €800 million in 2012.

DIF has €5.6 billion in assets under management.