FundingPatriziaStreet Lighting
Published on September 5, 2024
PATRIZIA has raised an additional EUR 200 million for its Smart City Infrastructure Fund (SCIF) from APG Asset Management, representing its pension fund client ABP. This new funding increases SCIF’s total commitment to EUR 950 million, alongside a USD 500 million co-investment vehicle, growing PATRIZIA’s overall smart cities investment programme to EUR 1.4 billion.
SCIF, launched in 2018, focuses on smart city enabling infrastructure, including smart streetlighting, building optimization, and high-speed fiber-to-the-home connectivity. The initial EUR 750 million is fully committed, with the fresh funds aimed at expanding SCIF’s Italian smart streetlighting platform and its broader smart city division. Recent acquisitions include three Italian streetlighting companies, adding to a portfolio of over 360,000 light points across 220 municipalities, with plans to manage up to 1 million light points within five years.
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