Investment firm Ardian has raised $20 billion for its latest infrastructure platform.

The fund, dubbed Ardian Infrastructure Fund VI (AIF VI), reached its $13.5bn hard cap, raising a further $6.5bn in co-investments, making it 90 percent larger than its predecessor.

The platform has already deployed capital into digital infrastructure assets, including the acquisition of UK data center platform, Verne. The deal was completed last year and will see Ardian support the company’s expansion with up to $1.2bn in committed investments via equity and debt.

“Data infrastructure is now critical to Europe’s competitiveness,” said Mathias Burghardt, EVP and head of infrastructure at Ardian. “We are investing in the backbone of the energy transition – clean power and digital capacity – which together enable sustainable economic growth.”

The platform also funded the acquisition of Energia Group, one of Ireland’s largest electrical utilities, from I Squared Capital. The deal is reportedly valued at around €2.5bn ($2.91bn) and will see Ardian take control of Energia’s extensive generation portfolio.

So far, more than 40 percent of AIF VI’s capital has already been deployed, including the investments mentioned above.

The platform attracted commitments from 229 limited partners across Europe, North America, Asia-Pacific, and the Middle East. The US represented the largest foreign investor group, accounting for 14 percent of total capital raised, while Asian investors contributed 32 percent.

“The scale and speed of this raise highlight both Ardian’s leadership in the space and the resilience of European infrastructure as an asset class,” said Jan Philip Schmitz, head of investor relations at Ardian. “We’re seeing significant cross-border capital flow into European energy and digital platforms, as investors seek exposure to essential, decarbonised infrastructure.”

Headquartered in London, UK, Ardian manages or advises on more than $190bn of assets. Ardian’s previous digital infrastructure investments include Spanish fiber-to-the-home company Adamo, Italian tower firm Inwit, and Germany’s EWE AG.