Patrizia has announced the creation of a new Asia-Pacific (APAC) infrastructure investment fund with Mitsui.
The fund will invest in medium-sized infrastructure in developed countries in the Asia-Pacific region, including Australia and New Zealand. The fund targets solar and wind power plants, storage batteries, data centers, medical and educational institutions. The fund will initially focus on existing opportunities in energy (50% of the fund), digital (20%), social (20%) and mobility (10%) assets. The initial capital of the fund is US$110 million. The fund plans to secure obligations of investors in the amount of US$500 million to US$1 billion.
In the near future, the fund will seek Australian investments. Patrizia will explore Australian brownfield infrastructure projects. Mitsui acted as an anchor investor in the Asia-Pacific region with EUR57 billion (US$61.8 billion) in assets under management.