PARIS, April 2, 2026 – Proskauer advised Quaero Capital, an independent asset management firm, on the closing of a continuation fund dedicated to its water-sector platform, which provides municipal and industrial infrastructure services in Spain and France.
The fund is backed by Hamilton Lane as lead investor, along with HarbourVest as a significant investor, as well as other leading institutional investors. The Quaero European Infrastructure Fund III has co-invested in the platform alongside the continuation fund.
The platform brings together several leading Spanish and French companies, including Aqlara (water distribution) and Forafrance (specialist in industrial water), covering the entire value chain of the sector. It forms an integrated and diversified player, benefiting from economies of scale, an experienced team, and operational synergies. The group intends to continue its development in its main markets, Spain and France. This platform offers an attractive opportunity into the European water sector, which requires significant investment to meet the current challenges faced by local authorities and industrial companies.
Quaero Capital recently completed the fundraising for its 3rd vintage Quaero European Infrastructure Fund III in December, surpassing €1.4 billion. Since its launch 10 years ago, Quaero Capital has raised a total of €2.7 billion for its infrastructure business.
The Proskauer team advising Quaero Capital includes Agnès Rossi and Marcela Moraru and included associate Marie Keusch, Julie Dinarque and Souhadd K’Haboré (Private Funds). The team also included partner Matthieu Lampel, counsel Marion Bruère and associate Benjamin Benzakine (Private Equity M&A); partner Gwenaël Kropfinger and associate Maxime Dussartre (Tax).
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