Australia's AMP closes global infrastructure fund at $2.4b

According to a statement, more than 50 institutional investors contributed to the fund. LPs include Canada's Ontario Pension Board, UK-based Pantheon Ventures and School Employees Retirement System of Ohio in the US. Commitments were also received from investors in Australia, Japan, the Middle East and Europe.

The vehicle comprises a global fund launched in 2014 and as strategic European trust, which had been converted from an open-ended to a closed-ended fund. The platform reached a first close of $540 million in 2015 and a second close of $210 million last year.

"Our focus on assets in the middle market has seen us secure a compelling range of investments already and with our sector, geography and asset management expertise, along with an encouraging global deal pipeline for infrastructure, we are looking forward to securing more key assets and strong returns for our investors," said Boe Pahar, AMP's global head of infrastructure equity.

The fund will target infrastructure assets in the transportation, distribution and utilities sectors. It has made four investments in the past 12 months, including an underground parking system in the US, a telecommunications asset in Spain and a number of traditional and renewable energy plays across Europe.

AMP's infrastructure activities trace back to the 1980s when it participated in the financing of the Sydney Harbour Tunnel. The firm expects the sector to demand about $57 trillion of investment globally up to 2030.

As of mid-2016, AMP claims about $7.5 billion of infrastructure assets under management. Previous activity in this space includes the closing of its first and second infrastructure debt funds at $503 million and $1.1 billion, in 2012 and 2014, respectively.

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• Topics
• Australasia
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• North America
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• Australia
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