Nordic manager AIP raises US$2.32 billion for infra fund

Danish infrastructure asset manager AIP Management has pulled in €2 billion (US$2.32 billion) from investors following the first close of its latest clean energy infrastructure fund.

The fund is AIP’s fifth flagship vehicle, launched in March 2025 with a target size of €3 billion (US$3.5 billion), and is expected to reach final close before the end of 2026. AIP has stated that the €3 billion size was set intentionally, with the 15-year fund aiming to assemble a portfolio of 10 to 12 investments across core infrastructure sectors, with a strong emphasis on energy transition assets in Europe.

The successful raise highlights the rising appetite among investors for infrastructure strategies, with almost €300 billion (US$348 billion) raised globally in 2025—more than triple the previous record of around €100 billion (US$116 billion) achieved in 2021–22. AIP was established in 2012 by Danish pension fund PKA and is jointly owned by Norwegian asset manager Storebrand alongside its management team, and currently manages approximately €10 billion (US$11.6 billion) in assets.