King & Wood Mallesons has advised Asterion Industrial Partners on the structuring and final close of its second fund, Asterion Industrial Infra Fund II FCR, which has reached investment commitments of €1.8bn, exceeding its initial target size by €450m. The new investment vehicle is the largest private equity fund in Spain and one of the most important in Europe.

As in Asterion Fund I, investors include pension funds, sovereign wealth funds, asset managers and insurance companies from across Europe, North America, the Middle East, and Asia. The fund's strategy focuses on European infrastructure, targeting the telecom, energy, utilities, and mobility sectors within its core focus markets of the UK, France, Spain, Portugal, and Italy.

The KWM team was led by funds partners Isabel Rodríguez, with the collaboration of senior associate María de Orueta.