Press Release Commerz Real launches infrastructure fund with focus on Germany for private investors
20.01.2026 • 4 Reading Time
Highlights
- Relevant growth market as stabilising portfolio component
- Broad access to infrastructure for private investors
- infravest supplements real assets offering of Commerz Real
Commerz Real has launched infraVest ELTIF, a new infrastructure fund for private investors focus-ing primarily on Germany. The ELTIF (European Long-Term Investment Fund) gives investors direct, diversified access to infrastructure growth opportunities while contributing to strengthen Germany’s and Europe’s economic foundations.
Growth market with political tailwind
Infrastructure investments are right at the top of the political agenda in Germany, as infrastructure forms the basis for a strong economy. The investments required in Germany alone through 2040 are estimated at 1.3 trillion euros, with the figure for Europe as a whole put at as much as 13 trillion euros.¹ The infrastructure backlog and the investment required to transition energy and heating away from fossil fuels far exceed public budgets—creating attractive opportunities for private capital.
Nearly 90 per cent of citizens in Germany regard investment in infrastructure as extremely relevant, as revealed by a representative survey commissioned by Commerz Real . At the same time infrastructure has played hardly any role at all to date in the development of wealth or in capital investment for private investors. Yet investments in real assets in the field of infrastructure generate returns regardless of shortterm fluctuations on the stock markets, and can thus have a stabilising effect on portfolios in the long term.
Nearly 90 per cent of citizens in Germany regard investment in infrastructure as extremely relevant, as revealed by a representative survey commissioned by Commerz Real . At the same time infrastructure has played hardly any role at all to date in the development of wealth or in capital investment for private investors. Yet investments in real assets in the field of infrastructure generate returns regardless of shortterm fluctuations on the stock markets, and can thus have a stabilising effect on portfolios in the long term.
We're seeing unprecedented alignment: political will, social need, and economic opportunity. In-fravest gives investors access to this momentum.
Wide range of infrastructure and focus on Germany
The investment strategy of the fund is geared towards the long-term development of a diversified portfolio in the supply, communication, transport, energy and social sectors. Thus, in the long term Infravest will cover a wide range of infrastructure segments and key supply fields, from mobile net-work development, through social infrastructure such as health care facilities and public authorities, to waterworks and power stations. The investments will focus on Germany. In addition to direct in-vestments, Infravest can also invest in other funds.
Infravest aspires to a long-term net target return of 5 to 6 per cent at fund level³. Added value is to be generated by earnings from long-term license agreements and active portfolio management. The fund operates under the European legal framework of the ELTIF 2.0 regulation and is domiciled in Luxembourg.
Infravest aspires to a long-term net target return of 5 to 6 per cent at fund level³. Added value is to be generated by earnings from long-term license agreements and active portfolio management. The fund operates under the European legal framework of the ELTIF 2.0 regulation and is domiciled in Luxembourg.
Extensive real assets expertise of Commerz Real
To date diversified infrastructure investments in Germany and Europe have remained largely out of reach for private investors due to high minimum amounts, regulatory hurdles, and complexity. The ELTIF regulation changes this, giving investors structured access to infrastructure projects across Germany and Europe
Sandro Berweiler will manage the fund. The experienced infrastructure specialist joined Commerz Real in October 2025, having previously worked as a portfolio manager at Swedish investment man-ager EQT and German asset manager Feri.
Infravest gives investors access to Commerz Real’s profound real asset expertise. The company has over 50 years of experience and €35 billion in assets under management. In recent years, it has completed 100 infrastructure projects totalling approximately €4.3 billion. Infravest completes the company’s retail fund range alongside hausInvest, the open-ended real estate fund, and Klimavest ELTIF with a focus on renewable energies.
Infravest gives investors access to Commerz Real’s profound real asset expertise. The company has over 50 years of experience and €35 billion in assets under management. In recent years, it has completed 100 infrastructure projects totalling approximately €4.3 billion. Infravest completes the company’s retail fund range alongside hausInvest, the open-ended real estate fund, and Klimavest ELTIF with a focus on renewable energies.
¹ Source: G20 Global Infrastructure Outlook, https://outlook.gihub.org/, 30.12.2025.
² Representative YouGov survey of 2,015 German citizens in the period from 24 to 26 Sept. 2025. Detailed results: https://commerzreal.com/de/blog/umfrage-infrastruktur-fonds-als-kapitalanlage/
³ Based on the long-term (>5 years) investment horizon of Infravest. Amendments to the target return can result from chang-es in the individual markets or as a result of other factors. Calculated using the BVI method (excluding initial issue premium, distribution reinvested immediately). Statements on the target return are not a guarantee for future returns.
² Representative YouGov survey of 2,015 German citizens in the period from 24 to 26 Sept. 2025. Detailed results: https://commerzreal.com/de/blog/umfrage-infrastruktur-fonds-als-kapitalanlage/
³ Based on the long-term (>5 years) investment horizon of Infravest. Amendments to the target return can result from chang-es in the individual markets or as a result of other factors. Calculated using the BVI method (excluding initial issue premium, distribution reinvested immediately). Statements on the target return are not a guarantee for future returns.
About Commerz Real
Commerz Real is the asset manager for tangible asset investments of the Commerzbank Group and has 52 years of international experience in the market. More than 800 employees manage assets worth around 35,5 Billion Euro billion euros at the headquarters in Wiesbaden as well as at 17 other locations and branches in Germany and abroad.
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