DWS today announced the final close of its third Pan European Infrastructure (PEIF III) fund achieving EUR 3 billion, which is in excess of its EUR 2.5 billion fund target. This is the third fund in the successful flagship PEIF series.
Demonstrating high demand for its European focused strategy, the fund - which was launched in 2019 - closed with more than 70 investors including a significant cohort who had also invested in previous funds in the PEIF series. The investor base reflects a wide net of global and blue chip investors from across Europe (Germany, Italy), Asia (South Korea, Japan) as well as the United States. DWS achieved this successful close despite restrictions caused by the pandemic with much of the fundraising effort conducted remotely.
Hamish Mackenzie, Head of Infrastructure at DWS, said: “We are thrilled to achieve the final close of PEIF III, following on from PEIF and PEIF II which are currently ranked as top quartile funds. Our distinctive investment approach for our European strategies focuses on mature infrastructure assets in Europe and allows us to leverage the experience, expertise and successful track record of our investment team.”
Further propelling the positive momentum behind the fund, the investment programme for PEIF III achieved more deployment success than any other fund of its vintage in 2020. To date it has committed circa EUR 1,050 million across four transactions which includes two investments in energy transition, one investment in healthcare and a commitment in the rolling stock leasing sector.
“Our investment focus on the key macro-economic trends of decarbonisation and digitalisation of the economy has proven its relevance in the current Covid crisis. We will continue to progress a robust pipeline with a consistent focus on the sectors that will further contribute to the long-term recovery and the sustainability of our economies.” concluded Harold d’Hauteville, Head of Infrastructure Equity, Europe at DWS.
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About DWS - Infrastructure
DWS has been investing in infrastructure assets since 1992. The global platform – which provides client solutions covering private equity infrastructure, debt and separate account mandates – gives investors access to such economic sectors as transportation, utilities, telecommunications, and other service sectors critical to the basic functioning of local and global economies. As part of the Alternatives platform, the direct infrastructure business holds over €11 billion in assets under management (as at March 31, 2021) and more than 40 infrastructure investment professionals. With 25+ years of direct infrastructure experience, DWS employs a disciplined investment approach and aims to deliver superior long-term risk adjusted returns, preservation of capital and diversification to its investors, which include governments, corporations, insurance companies, endowments, and retirement plans worldwide.
About DWS Group
DWS Group (DWS) is one of the world's leading asset managers with EUR 820bn of assets under management (as of 31 March 2021). Building on more than 60 years of experience, it has a reputation for excellence in Germany, Europe, the Americas and Asia. DWS is recognized by clients globally as a trusted source for integrated investment solutions, stability and innovation across a full spectrum of investment disciplines.
We offer individuals and institutions access to our strong investment capabilities across all major asset classes and solutions aligned to growth trends. Our diverse expertise in Active, Passive and Alternatives asset management – as well as our deep environmental, social and governance focus – complement each other when creating targeted solutions for our clients. Our expertise and on-the-ground-knowledge of our economists, research analysts and investment professionals are brought together in one consistent global CIO View, which guides our investment approach strategically.
DWS wants to innovate and shape the future of investing: with approximately 3,500 employees in offices all over the world, we are local while being one global team. We are investors – entrusted to build the best foundation for our clients’ future.