Linklaters advises Vesper Infrastructure on its first next generation infrastructure fund, in total surpassing €1bn

A cross-border Linklaters team has advised Vesper Infrastructure Partners, an infrastructure sponsor owned by its six founding partners (Livio Fenati, Alfredo Maria De Falco, Paola Rastelli, Giacomo Rossi, Guillermo Royo-Villanova, and Olaf Nordmeyer) on the formation of Vesper Next Generation Infrastructure Fund I SCSp.

The fundraise surpassed its initial target of EUR 800m, reaching together with associated co-investment vehicles, over EUR 1bn in total assets under management and making it the largest first-time fund in the value-add infrastructure space since 2023[1]. Investors in the fund include a distinguished group of institutional investors from across Europe and North America, including leading pension funds, insurance companies, governmental organisations, asset managers and family offices.

The fund targets investments in European mid-market companies across four strategic sectors: sustainable and decentralised energy, social infrastructure, data and digital infrastructure, and mission-critical transport infrastructure. The fund has already invested in six portfolio companies and anticipates a further three to four investments.

Linklaters has advised the client, that operates as exclusive advisor to the AIFM of the fund, on all aspects of the structuring of the fund and its advisory structure, its fundraising and the associated co-investment vehicles. Linklaters also supported the team on the fund financing.

The Linklaters team was led by Adrien Timmermans (Partner-Elect, Investment Funds, Luxembourg) and Anna Ferraresso (Partner, Financial Regulation and Structured Finance, Milan) on fund aspects and regulatory matters. The team also included Roberto Egori (Partner, Tax, Milan), Joakim-Antoine Charvet (Partner, Tax, Luxembourg), Max Levine (Partner, Tax, New York) and Mike Dankis (Partner, Investment Funds, New York). Other key practitioners involved in the matter include Justine Beaufils (Associate, Investment Funds, London), Luis Gabriel Jiménez (Associate, Investment Funds, Luxembourg) and Matteo Feliziani (Managing Associate, Tax, Milan).