Cube Infrastructure Managers
Private equityLuxembourg · Growth · 59 people tracked
Investment thesis
Cube invests in essential European infrastructure using a buy-and-grow strategy, active asset management, and an integrated ESG approach. It targets under-the-radar, mid-market companies and empowers local management teams to drive growth. Core focus areas include energy transition (district heating, renewables such as solar, wind, hydro, geothermal, and energy-from-waste), telecoms and digital infrastructure (fiber broadband, datacenters, IoT), transport and mobility (public transport and temperature-controlled logistics), environment (waste management and recycling), and EV charging. The firm continually analyzes market trends to identify new high-growth infrastructure sectors that need both capital and operational capability, aiming to deliver value for investors, communities, and stakeholders.
Source: firm website, verified Aug 25, 2026.
Team · 59 people
from the firm's website
What they invest in
from 13 of 50 portfolio companiesEnterprise Software ×6Cleantech ×5Energy ×5Climate Tech ×3Cloud Computing ×3Data & Infrastructure ×3Mobility & Transportation ×2Circular Economy ×1
HQs:Spain×3France×2Belgium×1Czechia×1Germany×1United Kingdom×1
Investments · 50 tracked
founders shown can be your intro pathAsteo Red Neutra is a wholesale telecommunications infrastructure operator that designs, deploys, and manages backbone, backhaul, and fiber-to-the-home (FTTH) access networks, providing wholesale connectivity services to telecom, energy, and other network operators.
Cloud ComputingEnterprise Software
Public transport platform in Sweden
Renewable energy platform in France (divested)
Public transport platform in Norway (divested)
Public transport platform in France
Fiber network owner in southern Italy
Energy-from-Waste operator in the UK (divested)
Cogeninfra develops and operates district heating networks and delivers energy efficiency solutions—including photovoltaic, cogeneration and trigeneration plants, heat recovery systems, heat pumps, and a digital platform for monitoring energy data—for industrial clients and public administrations.
CleantechClimate TechEnergy
Covage is a B2B connectivity operator that runs a fiber-optic network dedicated to business and public-sector traffic across France, offering shared fiber, dedicated fiber, dark fiber, and mobile solutions.
Enterprise SoftwareGovTechIoT
Renewable energy joint venture platform in Germany and Italy
Temperature-controlled logistics platform in France
dstelecom builds and operates fibre-optic network infrastructure in Portugal, focused on extending broadband connectivity to lower-density and interior regions.
EnergyEnterprise Software
ENETIQA Group develops decarbonization programs for heating plants, replacing coal with lower-CO2 or CO2-neutral alternatives.
CleantechClimate TechEnergy
Railway concession company in UK/France (divested)
Fiber network owner in Finland
firstcolo operates redundant, ISO 27001/ISO 9001-certified data centers in the Rhein-Main region around Frankfurt am Main, offering colocation, cloud, and managed IT services with direct DE-CIX connectivity.
Cloud ComputingData & InfrastructureEnterprise SoftwareFrankfurt am Main, DE
Independent power producer in Spain (divested)
GleSYS provides cloud infrastructure including KVM-based virtual servers and managed PostgreSQL and MySQL databases.
Cloud ComputingData & InfrastructureDeveloper Tools
District heating operator in Slovakia
Renewable energy platform in Iberia
Hansea is a Belgian mobility company that provides customized passenger transport and integrated mobility solutions, including bus and coach rentals, through a network of more than 45 locations across Belgium.
Mobility & Transportation
Key player in the European IoT ecosystem
Energy infrastructure and services platform in France (divested)
Islalink operates submarine fiber-optic cable infrastructure and provides high-capacity connectivity services to the wholesale telecom market, linking regions across the Atlantic, Mediterranean, the Balkans, and Central Europe.
Data & InfrastructureEnterprise SoftwareMadrid, ES
EV charging platform in France
Temperature-controlled logistics platform in Austria
Public transport operator in Germany (divested)
Energy-from-Waste operator in the UK (divested)
Small-scale hydro operator in Norway
EV charging platform in the UK
Rede Aberta is a Galician neutral wholesale telecommunications operator that deploys a fiber-optic network across rural Galicia, offering wholesale connectivity services (FTTH, dark fiber, Ethernet circuits, and housing/interconnection) to other telecom operators.
Enterprise Software
RiverRidge is a Northern Ireland waste management company that collects, treats, and disposes of commercial waste end-to-end, recovering recyclables and generating electricity from residual waste at its waste-to-energy facility.
Circular EconomyCleantechEnergyBelfast, GB
Fiber network owner in the Netherlands (divested)
Independent power producer in Iberia (divested)
Fiber network owner in Croatia
Fiber network owner in Slovenia
Saur is a water company that provides drinking water production, wastewater treatment, water reuse, water management, and digital water solutions to municipalities and industrial clients.
CleantechClimate TechImpact & Social Good
Fiber network owner in the Czech Republic (divested)
Waste collection operator in France
Stations-e operates a national network of connected multiservice EV charging stations across France, offering AC and DC charging with subscription plans and a universal charging badge.
CleantechEnergyMobility & Transportation
Independent power producer in France (divested)
Fiber network owner in the UK (divested)
Public transport operator in Denmark (divested)
Fiber network owner in central Italy
Waste collection operator in the Nordics
Fund performance · per public LP disclosures · 3
as of Sep 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| Cube Infrastructure IIILPs: Maine Public Employees Retirement System | 2021 | — | 9.3% | 1.27x | 0.12x |
| Cube Infrastructure IILPs: Maine Public Employees Retirement System | 2018 | — | 4.6% | 1.26x | 0.15x |
| Cube InfrastructureLPs: Maine Public Employees Retirement System | 2010 | — | 8.0% | 1.62x | 1.61x |
Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).
Frequently asked questions
- How many investments has Cube Infrastructure Managers made?
- Cube Infrastructure Managers has 50 tracked investments.
- What stage does Cube Infrastructure Managers invest at?
- Cube Infrastructure Managers invests at the Growth stage.
- What sectors does Cube Infrastructure Managers focus on?
- Cube Infrastructure Managers focuses on Circular Economy, Cleantech, Climate Tech, Data & Infrastructure, Energy, Impact & Social Good, IoT, Logistics & Supply Chain, Mobility & Transportation.
- Where is Cube Infrastructure Managers located?
- Cube Infrastructure Managers is headquartered in Luxembourg, LU.
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