DigitalBridge’s third flagship infrastructure fund is preparing to hold a final close next month just shy of its USD 8bn target, according to sources familiar with the matter.

The DigitalBridge Partners III fund is set to close in November with between USD 7bn and USD 7.5bn, just short of target, the sources added.

The fund, launched in 2023, follows the same strategy as its predecessors, targeting digital infrastructure subsectors including data centres, macro cell towers, fibre networks, and small cell businesses across Europe and North America.

The fund had raised USD 6.9bn as of July according to Infralogic data.

Boca Raton-headquartered DigitalBridge has previously disclosed billions of dollars in commitments to the fund through multiple filings with the US SEC. The filings show the firm is using placement agents NH Investment & Securities, UBS, Link Capital Partners, Citigroup, Cleopatra Consulting, and LS Securities.

Some of the institutional backers of the fund include the New York State Common Retirement Fund, which committed USD 275m, as well as the Maryland State Retirement and Pension System and the New York State Teachers’ Retirement System, each with USD 150m, according to Infralogic data.

Other DigitalBridge vehicles currently in the market include the DigitalBridge AI Infrastructure Fund, which targets data centre AI software.

DigitalBridge Credit II fund targets digital infrastructure debt, the open-ended core DigitalBridge Strategic Asset Fund,  focuses on core telecoms infrastructure  and the DigitalBridge Emerging Market Digital Infrastructure Fund is active in Asia.

Strategies in pre-launch phase include the DigitalBridge Digital Energy Fund and the DigitalBridge Stabilized Data Center Fund.

Digital Bridge declined to comment.