DTCP has held the second closing of its Digital Infrastructure Vehicle II (DIV II) with around €1 billion of capital commitments. The Fund was launched in June 2021 and has raised additional capital from new, leading international investors, including BlackRock and abrdn, as well as a sovereign wealth fund from the Middle East and various German insurance companies.
The fund will continue to raise significant capital until its final closing in 2023.
DIV II invests in digital infrastructure – fibre networks, mobile towers and data centres – to accelerate digital transformation and create value for its investors, its portfolio companies, and society. The fund focuses on opportunities with defensible market positions and long-term value creation potential through either minority or majority European equity investments. The fund is targeting eight to ten equity investments in the range of €150 to €250 million, offering significant co-investment opportunities to its investors.
The Fund has already committed €730 million in four transactions. DIV II was a founding investor in the new Cellnex NL, the leading independent telecommunications tower company in the Netherlands formed through the combination of the Deutsche Telekom and Cellnex tower businesses. DIV II has invested alongside other leading investors in Open Dutch Fiber and EFiber, which jointly constitute the largest independent open access fibre-to-the-home network in the Netherlands. Finally, the Fund has recently signed its latest investment into a leading European data centre business, which is expected to be completed shortly.