Germany-based Patrizia SE and Japan-based Mitsui have launched a new infrastructure investment fund for the Asia Pacific (APAC) region. The newly announced investment vehicle will primarily focus on the development of sustainable infrastructure, with the partners raising around USD110 million in equity for the first closing. The partners are aiming to raise up to USD1 billion in future rounds.

The fund will primarily finance mid-market brownfield projects in the energy, digital and mobility sectors. The focus will be on developing solar and wind farms, battery storage, data centres, and electric vehicle (EV) charging infrastructure. Around 20 per cent of the total investments will be allocated to develop digital assets, including data centres and subsea cables.

The Development Bank of Japan Incorporated is one of the key investors in the fund.