Investment firm KKR has closed its Global Infrastructure Investors V fund, raising $19.2 billion.

The company manages around $120bn in infrastructure equity today, up from $13bn in 2019. The V fund has already committed more than $9bn, with investments in companies including Altitude III, EDF power solutions North America, Enilive, Sempra Infrastructure, and The Parking Spot.

The V fund has also invested in Italian digital network infrastructure operator FiberCop, US fiber-to-the-home builder Metronet, build-to-suit data center company Global Technical Realty, and MENA colocation company Gulf Data Hub.

“Demand for infrastructure investment across North America continues to accelerate as digitalization, electrification, and industrial growth reshape the economy,” said Brandon Freiman, head of North American Infrastructure at KKR.

“Meeting that demand will require significant long-term capital, and we believe KKR is well positioned to partner with the businesses and asset owners investing in the infrastructure that will underpin the next phase of economic growth.”

Vincent Policard, co-head of European Infrastructure at KKR, added: “Europe is entering a period where investment in critical infrastructure will play an increasingly important role in supporting competitiveness, energy security, and economic resilience. Having invested across the region for many years, we believe our local presence, global network, and long-term approach uniquely position us to work with businesses, communities, and public-sector stakeholders as these needs continue to grow.”

The company said that it received backing from new and existing investors across pension plans, sovereign wealth funds, insurance companies, asset managers, private wealth platforms, and family offices.