Cube hits €587M first close for €1.5B fourth infrastructure fund
What's the deal? Cube Infrastructure ManagersDealroom has a profile for this one. Try Dealroom → has reached a €587 million first close for Cube Infrastructure Fund IV, against a €1.5 billion target. The European mid-market investor announced the milestone on November 9, 2026.
What's the endgame? Fund IV continues Cube's European mid-market strategy spanning energy transition, communications, and public transport. Recent portfolio activity includes Nordic environmental services platform VerdisDealroom has a profile for this one. Try Dealroom →, fiber-network venture Rurix, and solar and battery storage platform CubIKSDealroom has a profile for this one. Try Dealroom →.
Why now? The firm closed its third fund in 2021. Fund III has since produced its first exit — the sale of Frankfurt datacenter operator firstcoloDealroom has a profile for this one. Try Dealroom → to CVC DIF in August 2026 — clearing the path for a new flagship raise.
What could go wrong? Fund III set the same €1.5 billion target and drew €1 billion at its 2021 first close, making Fund IV's €587 million opening a notably slower start. The gap to target leaves follow-on fundraising as the key test.
The signal: Infrastructure fundraising was strong in 2025, but capital concentrated in a handful of very large funds, leaving competition for commitments intense. A €1.5 billion target is modest by comparison; Cube's first close shows meaningful investor support, but closing the gap will determine the raise.
Read more: altassets.net
Image credit: blmcalifornia
