Infrastructure Europe: December 2025

Deals:  

Ancala has acquired a majority stake in MUCH Gruppe, a Germany-based specialist provider of temporary modular building, related accessories and services, and broader infrastructure solutions.

Equitix has acquired a substantial minority stake in Viridor Group, a U.K.-based operator of energy-from-waste (EfW) facilities, from KKR. This strategic investment builds on Equitix’s existing 35 percent shareholding in Viridor’s Energy division with the aim of owning up to 50 percent.

Foresight Group’s flagship energy-transition fund, Foresight Energy Infrastructure Partners II (FEIP II), has taken ownership of a majority stake in Italy’s flyRen Energy Group. flyRen is an independent renewable power producer headquartered in Turin, Italy, with a development pipeline of approximately 2.2 gigawatts spanning solar, battery storage and onshore wind.

Infranity and Omnes Capital have closed on a co-control stake in Power Capital Renewable Energy, an Irish independent power producer (IPP). With a 230-megawatt operational fleet of solar PV, 330 megawatts under construction and a pipeline of solar PV and battery energy storage systems (BESS) totalling more than 5 gigawatts, Power Capital is the largest solar IPP in Ireland.

OMERS Infrastructure has closed €770 million ($904 million) in new debt facilities at Borealis Spain Parent B.V., the holding company of Spain’s energy infrastructure giant Exolum.

Schroders Greencoat confirmed it has acquired a majority stake in U.K. green hydrogen developer Meld Energy. Meld Energy, backed by World Kinect, one of the world’s largest fuel distributors and traders, is an independent project developer that seeks to develop an international portfolio of green hydrogen production to supply low and zero-carbon fuels for industry, road transport, shipping and aviation, according to the company’s website.

Stonepeak and Energy Equation Partners (EEP), an investment firm with significant expertise in fuel retail, have acquired a 65 percent interest in JET Tankstellen Deutschland from a subsidiary of Phillips 66.

Fundraising:  

Arcus Infrastructure Partners has surpassed the €2 billion ($2.3 billion) target for its fourth fund, Arcus European Infrastructure Fund 4 (AEIF4), closing at its €3 billion ($3.5 billion) hard cap a little more than seven months after the fund’s launch.

CEE Group, a Hamburg, Germany-based asset manager specializing in renewable energies, has announced a groundbreaking financing structure under which it is securing up to €1.6 billion ($1.8 billion) from an international banking club by 2030 for CEE RF9, Germany’s largest repowering fund.

Eiffel Investment Group has exceeded the €1 billion ($1.2 billion) initial fundraising target for the third vintage of its energy-transition infrastructure debt strategy, Eiffel Energy Transition III, landing at its hard cap of €1.2 billion ($1.4 billion).

Igneo Infrastructure Partners has wrapped up fundraising for its European Diversified Infrastructure Fund III (EDIF III), closing the fund above its hard cap at €5.3 billion ($6 billion).

Movers & Promotions:  

Dalmore Capital, U.K.-based infrastructure investor that manages approximately £6 billion ($8 billion) of assets across five flagship funds, has bolstered its senior investment team with the appointment of Stephen Deeley as a managing director. The appointment comes a month after Dalmore finalized its acquisition by Royal London.

Pioneer Point Partners has announced a series of promotions and new hires across its team following the oversubscribed €1.1 billion ($1.3 billion) final closing of its second sustainable institutional fund. Sebastian Miller, who joined the firm in 2014, was promoted to partner. He has been instrumental in the management of several portfolio companies, including Nature Energy, Start Campus and Seras. Miguel Arbizu, Jemima Atkins, Luca Boschetti and Julius McGillivray also were promoted to principal, reflecting their significant contributions to the firm. In addition, Emma Young was promoted from her role as investor relations and ESG associate to ESG manager to work solely on ESG initiatives.