abrdn announces final close of its third Core/Core+ infrastructure fund, describing core infrastructure as the backbone of Europe’s growth story
06 February 2025abrdn announces the final closing of its third core/core+ infrastructure fund, ASCI III1 (“The Fund”) on Friday 31st January 2025. Focused on direct investments in European small to mid-market core and core+ infrastructure opportunities, the Fund builds on the success of Funds I and II, and related co-investment vehicles.
The Fund has raised total commitments of c.€585m (including co-investments) and has a further pipeline of co-investments in excess of €200m. The Fund has received strong support from both existing investors as well as a number of new investors. The commitments come from a wide range of financial investors, including corporate and local authority pension funds, funds of funds, and charitable foundations from the UK, Continental Europe, Japan, Korea and North America.
The Economic Infrastructure team, led by Dominic Helmsley and supported by Graeme Dunbar and Maciej Tarasiuk, consists of 24 investment professionals and manages over €3bn of abrdn’s €7.65bn (£6.4bn)2 infrastructure assets across Europe.
The Fund has made a strong start in its deployment phase, having already completed seven investments across Finland, Germany, Spain, Italy and the UK. It is an Article 8 fund under SFDR, reflecting its commitment to promoting sustainability characteristics as part of value creation.
Investments made by the Fund to date will deliver significant sustainability outcomes including at least an 80% reduction in emissions from biomethane production in Italy, the decarbonisation of district heating by 2027 in Finland, the modernisation and electrification of rolling stock in German railways and improved regional digital connectivity across England and Spain, with significant investment in fibre infrastructure for rural areas.
Dominic Helmsley, Head of Economic Infrastructure at abrdn, said:
“We are delighted to announce the final close of our third infrastructure fund. Despite a challenging market backdrop, we are pleased that the overall capital raised, with anticipated co-investments, reflects our original target and investor demand for the small to mid cap segment of the infrastructure market.
Core infrastructure should be the backbone of Europe’s growth story. In the same week that the UK Government vowed to go ‘further and faster’ to boost growth and fund much needed infrastructure, the European Commission published ‘A Competitive Compass for the EU’, putting infrastructure front and centre of plans to regain competitiveness and secure prosperity.
We believe that growth areas such as the transition to net zero and the digital revolution themes have much further to run and we are grateful to have received such great support from existing and new investors which is a testament to the commitment and hard work of the team.”
Maciej Tarasiuk, Head of Investments, Economic Infrastructure, added:
“We continue to see our strategy and approach resonate well with investors, who seek long term value creation through small to mid-market infrastructure investments across Europe, supporting positive outcomes for local communities. Having grown the team with seven new investment professionals, we look forward to the next chapter of growth, working with our investors and partners in identifying and investing in high-quality infrastructure assets that contribute to sustainable growth.”
- Aberdeen Standard Core Infrastructure Fund III
- As at 31 December 2024
Media enquiries
Jemma Jackson
Head of Campaigns and Media, abrdn
07776 204 610
Marianna Hunt
Campaigns Manager, abrdn
07442 806207
Notes to editors
About abrdn
- abrdn is a global investment company that helps clients and customers plan, save and invest for the future. Our purpose is to enable our clients to be better investors.
- abrdn manages and administers £511.4bn worth of assets for clients (as at 31 December 2024).
- Our strategy is to deliver client-led growth. We are structured around three businesses – Investments, Adviser and interactive investor – focused on the changing needs of our clients.
- The capabilities in our Investments business are built on the strength of our insight – generated from wide-ranging research, worldwide investment expertise and local market knowledge.
- Our teams collaborate across regions, asset classes and specialisms, connecting diverse perspectives and working with clients to identify investment opportunities that suit their needs.
- As at 31 December 2024, our Investments business manages £369.7bn on behalf of clients - including insurance companies, sovereign wealth funds, independent wealth managers, pension funds, platforms, banks and family offices.
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