Jesus Olmos, who founded Asterion Industrial Partners, secured €520 million for his first fund, London's Financial Times reported, citing people with knowledge of the matter.

The new Asterion Industrial fund will also bring in Guido Mitrani as a founding partner, subject to regulatory approval, the sources told the publication. Olmos and Mitrani are former executives at private equity giant KKR & Co.

The amount raised came from 12 investors, including the Abu Dhabi Investment Council and Pantheon. The investor base includes sovereign wealth funds, pension funds, insurers and asset managers from Europe, North America and the Middle East, according to the publication.

Asterion recently acquired energy services company Proxiserve SA in a deal valued at €720 million, the FT reported March 21. The Spain-based private equity firm focuses on infrastructure investments in Europe.