Singapore's GIC has emerged as the lead buyer on Meridiam's €2.2 billion European infrastructure continuation fund, according to Secondaries Investor. The deal involves a portfolio of 22 infrastructure assets across 10 European countries, including Italy, Germany, Spain, Finland, and France.

Campbell Lutyens is advising on the transaction for the Paris-based firm, which launched the fund in 2025 and surpassed its undisclosed target in just four months. The vehicle attracted nearly 70 percent of its capital from new investors, including European, Asian, and US limited partners, with existing investors rolling over their commitments.

The continuation vehicle addresses the mismatch between the fund's term and the longer duration of underlying concessions. Existing investors can remain invested or select liquidity windows offered every two to three years when portfolio assets mature. The deal follows Meridiam's 2018 secondaries process for its 2006-vintage fund, which delivered a 2.5x return to exiting investors.