PATRIZIA Secures €200 Million to Boost Italian Smart City Projects, Expands Investment Program to €1.4 Billion

PATRIZIA Secures €200 Million to Boost Italian Smart City Projects, Expands Investment Program to €1.4 Billion

(IN BRIEF) PATRIZIA has raised an additional €200 million for its Smart City Infrastructure Fund (SCIF), bringing the total fund size to €950 million and expanding its overall smart city investment program to approximately €1.4 billion. The new capital, provided by APG Asset Management, will focus on growing PATRIZIA’s smart streetlighting platform in Italy and enhancing its smart city services. PATRIZIA’s investments in smart city infrastructure are part of its broader strategy to reach €100 billion in assets under management within the next five years.

(PRESS RELEASE) LONDON, 29-Aug-2024 — /EuropaWire/ — PATRIZIA, a global leader in real assets, has successfully raised an additional €200 million for its Smart City Infrastructure Fund (SCIF), bringing the total fund size to €950 million. Including a $500 million co-investment side vehicle, PATRIZIA’s overall smart city investment program now totals approximately €1.4 billion. The latest funding round comes from cornerstone investor APG Asset Management, representing its pension fund client ABP.

This new capital will be used to expand PATRIZIA’s smart city initiatives, particularly focusing on the growth of its Italian smart streetlighting platform. The SCIF, which was launched in 2018, has fully committed its initial €750 million to smart city projects across Europe and North America. Notable investments include five FiberCity® projects in the U.S. and multiple smart streetlighting acquisitions in Italy, which have positioned PATRIZIA as a major player in the Italian market.

The Italian smart streetlighting platform, now managing over 360,000 light points across 220 municipalities, aims to increase this number to 1 million within the next five years. PATRIZIA plans to accelerate this growth through additional acquisitions and the deployment of advanced smart city services, such as smart building management and smart traffic solutions.

Jose Martinez Artiles, Investment Director at PATRIZIA Infrastructure, emphasized the financial and environmental benefits of smart streetlighting, highlighting the strong relationships built with Italian municipalities. Graham Matthews, Co-Head of Fund Management and Chair of SCIF, noted that the convergence of infrastructure, real estate, and technology is driving the development of smart cities, which are essential for addressing urbanization, digitalization, and the energy transition.

PATRIZIA’s smart city strategy is a key component of its broader ambition to reach €100 billion in assets under management within the next five years, reflecting the company’s commitment to sustainable and innovative infrastructure solutions.

PATRIZIA: A leading partner for global real assets

With operations around the world, PATRIZIA has been offering investment opportunities in real estate and infrastructure assets for institutional, semi-professional and private investors for 40 years. PATRIZIA manages approx. EUR 56bn in assets and employs around 900 professionals at 27 locations worldwide. PATRIZIA has been making an impact since 1984 by helping children in need, since 1992 in close collaboration with Bunter Kreis (“colourful circle”) in Germany for aftercare of children with severe diseases and since 1999 through its support for the PATRIZIA Foundation. The PATRIZIA Foundation has given more than 700,000 children and young people worldwide access to education, healthcare, and a safe home to get the chance to live a better self-determined life over the last 25 years. You can find further information at www.patrizia.ag and www.patrizia.foundation/en.

Media Contact:

Andrew Belt
Corporate Communications
Phone: +44 7442 965485
communications@patrizia.ag

SOURCE: PATRIZIA SE