Campbell Lutyens advises Meridiam on largest ever multi-asset infrastructure vehicle of its kind
Campbell Lutyens, the world’s leading independent private capital advisor, is pleased to announce its role as co-advisor to Meridiam on its €2.2bn multi-asset vehicle (the Meridiam Infrastructure Europe Core Fund) to support the long-term ownership and management of 22 infrastructure assets. This transaction represents the largest disclosed multi-asset vehicle in the asset class executed to date.
The vehicle offers a long-term hold solution for these 22 high-quality assets, which have long-dated concession agreements and proven operational performance. The transaction allowed existing investors to choose between attractive liquidity conditions or continued participation in the long‑term value creation of the assets, while giving new investors immediate access to a mature, diversified, and resilient portfolio with stable and predictable returns.
The fund saw strong interest from global institutional and secondary investors, with close to 70% of commitments coming from new LPs. The balance was provided by existing investors who elected to roll over their capital, underscoring their continued confidence in Meridiam’s value-creation strategy over a further 20‑year horizon.
This is Meridiam’s first such transaction, underscoring its long-term commitment to developing landmark infrastructure across Europe while providing regular liquidity windows to its investors engaged in 25-year structures.
This transaction is also the sixth project jointly executed by Campbell Lutyens and J.P. Morgan since the announcement of the secondary advisory strategic partnership in 2023. This track record underscores the growing relevance of these combined in an environment where continuation vehicles are emerging as a preferred portfolio management strategy for premium assets.
Meridiam is an established global asset manager with c. €23bn AuM, focused on developing, building and operating new and sustainable infrastructure over the long term.
Immanuel Rubin, Partner and Global Co-Head of Secondaries at Campbell Lutyens said: “We offer our warmest congratulations to Meridiam on this successful transaction, the largest ever in its category. The new vehicle offers substantial benefits and optionality to existing investors while bringing in new institutional and secondary capital, demonstrating the confidence of the GP and investors alike in the future performance of these assets.”
Campbell Lutyens is a leading advisor in the secondaries market, executing over 386 successful secondary portfolio sales and advisory mandates across asset classes. The team has advised over $175bn of transactions for both GP and LP clients.