Vesper Infrastructure Partners

What Vesper Infrastructure Partners does

Vesper Infrastructure Partners is a fully independent infrastructure investment firm established in 2022 and headquartered in Milan, Italy, with additional offices in London, Hamburg, and Madrid. The firm operates as the exclusive advisor to the Vesper Next Generation Infrastructure Fund I, a Luxembourg-domiciled closed-end alternative investment fund managed by FundRock LIS S.A. Vesper targets European mid-market value-add infrastructure opportunities across four thematic pillars: Clean Energy & Electrification, Decarbonised Mobility & Connected Logistics, Secure Digital Infrastructure, and Circular Solutions & Sustainable Living. The firm is 100% owned by its six founding partners and is supported by a pan-European team with 120+ years of combined infrastructure experience.

The firm's investment platform rests on three proprietary pillars: a Megatrend Monitoring System for theme identification, a Capital Protection Screening Methodology assessing cash flow visibility, technology risk, and ESG integration, and an Industrial High-Performing Governance Framework for post-acquisition value creation. As of April 2026, Fund I reached final close above €1 billion in AuM from more than 50 institutional investors across Europe and North America, including development finance institutions EIF (€75M), COFIDES (€50M), and CDP Group. The fund has deployed capital across six portfolio companies spanning seven European countries: RAD-x (digital diagnostic imaging), EAG Bioenergy and BioHold (biomethane), Thésée DataCenter and Terakraft (data centres), and SAF Aerogroup (aerial emergency services).

The firm's revenue model is that of a traditional alternative asset manager: recurring management fees on committed/invested fund capital, performance-related carried interest, advisory fees for portfolio monitoring services to the AIFM, and transaction-related co-investment arrangement fees. Distribution is exclusively direct-to-institutional, targeting pension funds, insurance companies, asset managers, and family offices via LinkedIn presence, industry events, and direct investor relations. The firm operates with 15+ team members and pursues a value-add strategy with stated plans to scale the portfolio to 9–10 companies under Fund I.

Name

Vesper Infrastructure Partners

Legal name

Vesper Infrastructure Partners SRL

Website

https://vesperam.com

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

Vesper Infrastructure Partners is an independent, Milan-based infrastructure investment firm advising the €1B+ Vesper Next Generation Infrastructure Fund I, deploying value-add capital across European mid-market opportunities in clean energy, digital infrastructure, mobility, and circular economy assets for institutional investors.

Ownership category

akta.pro rank

Product category

Infrastructure Fund Management

NAICS

Portfolio Management and Investment Advice (523940), Other Investment Pools and Funds (5259), Other Financial Vehicles (52599), Other Financial Investment Activities (5239)

SIC

Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Core Infrastructure Funds (Transport, Social, Digital, Utilities) (FSANAEAA)

akta.pro secondary industries

Energy & Power Infrastructure Funds (Generation, Transmission, Storage) (FSANAEAB), Social Infrastructure Funds (Schools, Hospitals, Civic) (FSANAEAN), Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure) (FSAAALAG)

Keywords

• Infrastructure investment management
• Value-add infrastructure fund
• European mid-market investments
• Sustainable infrastructure equity
• Institutional asset management

Headquarters

HQ city

Milan

HQ country

Italy

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Fund Management Fees: Vesper Infrastructure Partners acts as exclusive advisor to Vesper Next Generation Infrastructure Fund I SCSp, a Luxembourg alternative investment fund managed by FundRock LIS S.A. Revenue is generated through management fees and performance/carried interest from the fund.
2. Advisory Services: The firm provides advisory services regarding acquisition, structuring, financing, monitoring performance, and disposal of the fund's assets, receiving fees for these services.
3. Co-investment Initiatives: Co-investment opportunities alongside the main fund allowing institutional investors to participate directly in specific portfolio company investments.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels4 records

Core offering

Vesper Infrastructure Partners operates as the exclusive investment advisor to Vesper Next Generation Infrastructure Fund I SCSp, a Luxembourg-domiciled closed-end alternative investment fund that invests equity capital in European mid-market value-add infrastructure companies. The fund pursues control or co-control positions across sustainable energy, digital infrastructure, social/health infrastructure, and mission-critical transport sectors. The firm earns revenue through fund management fees, carried interest, advisory fees, and co-investment structuring.

Product overview

Vesper Infrastructure Partners operates as a fully independent infrastructure investment firm that serves as the exclusive advisor to the Vesper Next Generation Infrastructure Fund I, a Luxembourg-domiciled closed-end alternative investment fund. The fund applies a value-add investment philosophy focused on four megatrend-driven themes: Clean Energy & Electrification, Decarbonised Mobility & Connected Logistics, Secure Digital Infrastructure, and Circular Solutions & Sustainable Infrastructure for Healthy Living. The investment strategy centers on three pillars: Megatrends & Key Infrastructure Themes identification, Capital Protection, and Industrial High-Performing Governance. The fund has deployed capital across six portfolio companies spanning diagnostic imaging (RAD-x), bioenergy (EAG Bioenergy and BioHold), data centers (Thésée DataCenter and Terakraft), and emergency aviation services (SAF Aerogroup), covering seven European countries with investments ranging from €570m to €1bn+ in assets under management.

Differentiator

Problem solved

Functional benefit

Brands

• Vesper Next Generation Infrastructure Fund I: Luxembourg-based closed-end alternative investment fund focused on European mid-market value-add infrastructure opportunities in sustainable energy, digital infrastructure, social infrastructure, and mission-critical transport.

Products and services

• Vesper Next Generation Infrastructure Fund I A closed-end Luxembourg alternative investment fund focused on European mid-market value-add infrastructure opportunities across sustainable energy, digital infrastructure, social infrastructure, and mission-critical transport sectors. Available as a fund commitment to qualifying institutional investors.
• Co-investment Opportunities alongside Fund I

Quantifiable outcome

• Most successful debut mid-market infrastructure fund since 2023 with €1B+ AUM
• +3 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered major and core.

• Pietro FiorentinimajorStrategic or Co-development Partner · 6 June 2025Joint-control investment with Pietro Fiorentini in BioHold, an Italian bioenergy platform. Partnership combines industrial expertise with infrastructure capital to accelerate Europe's energy transition.
• OrbeNovo CapitalcoreStrategic or Co-development Partner · 24 October 2024OrbeNovo Capital is the existing investor in EAG Bioenergy. Vesper became the majority investor in EAG Bioenergy partnering with OrbeNovo Capital to deliver on the company's bioenergy strategy in the UK and Ireland.
• Swiss Life Asset ManagersmajorStrategic or Co-development Partner · 1 January 2024Swiss Life Asset Managers co-invested with Vesper in RAD-x, supporting the digital diagnostic imaging network expansion in Germany and Switzerland since 2024.
• FundRock LIS S.A.coreImplementation/ SI/ Consulting PartnerFundRock LIS S.A. is the Luxembourg-based AIFM (Alternative Investment Fund Manager) for Vesper Next Generation Infrastructure Fund I SCSp, authorised and regulated by CSSF. Vesper acts as exclusive advisor to FundRock regarding acquisition, structuring, financing, monitoring, and disposal of fund assets.
• Sanne LIS S.A.coreImplementation/ SI/ Consulting PartnerInitially referenced as fund manager for Vesper Next Generation Infrastructure Fund I SCSp (later transitioned to FundRock LIS S.A.). Luxembourg-based alternative investment fund manager.

Scale indicators9 records

Recent moves6 records

Expansion highlights2 records

Direct peers

• Antin Infrastructure Partners: Paris-headquartered infrastructure fund manager focused on European mid- and large-cap value-add and buyout infrastructure. Comparable to Vesper through European focus, institutional LP base, and operational value-add approach.
• I Squared Capital: Global infrastructure fund manager with strong European mid-market presence in energy, digital, and transport infrastructure. Comparable to Vesper through value-add approach and focus on mid-market opportunities.
• Cube Infrastructure Managers: European mid-market infrastructure fund manager headquartered in Luxembourg, focused on transport, energy, and digital infrastructure. Closely comparable to Vesper in fund size, European mid-market focus, and value-add approach.
• Arcus Infrastructure Partners: European mid-market infrastructure fund manager focused on transport, energy, and digital infrastructure. Comparable to Vesper through European mid-market mandate and long-duration value-add strategies.

Broad incumbents

• EQT Infrastructure: Major European-headquartered infrastructure fund manager with mega-fund scale. Comparable to Vesper through European infrastructure focus and institutional LP base, though significantly larger and broader in scope.
• Brookfield Asset Management: Global mega-fund infrastructure investor with significant European infrastructure exposure across digital, energy, and transport. Comparable to Vesper through thematic infrastructure focus but operates at materially larger scale.
• Macquarie Asset Management: One of the world's largest infrastructure investors with a substantial European mid-market infrastructure portfolio. Comparable to Vesper through operational value-add and European focus but with much broader scale and longer track record.
• KKR Global Infrastructure: Global infrastructure platform with significant European infrastructure exposure across digital, energy transition, and transport. Comparable to Vesper through value-add infrastructure thesis and institutional LP base.

Regional players

• NextEnergy Capital: UK- and Italy-focused renewable energy infrastructure fund manager. Comparable to Vesper through European infrastructure focus and renewable energy sector exposure, particularly overlap with Vesper's bioenergy portfolio.
• Greencoat Capital: European-focused renewable energy and infrastructure fund manager based in London. Comparable to Vesper through European renewable infrastructure focus and ESG-aligned investment mandate.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/vesper-infrastructure

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Vesper Infrastructure Partners