Australia's AMP Capital closes global infra fund at $3.4b

The vehicle attracted 60 institutional LPs globally, including pension funds, fund-of-funds, insurance companies, family offices, and sovereign wealth funds from Japan, Singapore, and Australia. PensionDanmark, Kempen Private Markets Fund, West Yorkshire Pension Fund, and Ilmarinen Mutual Pension Insurance are among the backers, according to Bloomberg.

It succeeds a similar platform that raised $2.4 billion in 2017. Targeted assets will have equity values in a range of $100-750 million in developed economies across the transport, communications, health, and energy sectors.

Five businesses have been invested to date across the US and UK. These include an airport, a fiber network provider, a suite of gas-fired power plants, a data center operator, and Achieve Together, a UK-based care provider with a range of facilities specializing in complex needs related to learning disabilities. The fund is said to be already more than 50% deployed.

“Our approach brings private equity-style rigor to infrastructure investing, influencing and delivering on business performance, and ensuring the provision of high-quality essential services,” said Boe Pahari, AMP’s global head of infrastructure equity. AMP will leverage a global infrastructure team of 48 investment professionals and 13 senior advisors, as well as substantial LP co-investment support.

AMP has been active in infrastructure since the 1980s when it participated in the financing of the Sydney Harbour Tunnel. The firm claimed to have A$23.1 billion ($16 billion) of assets under management in the asset class as of June 2019. In October, it closed its fourth infrastructure debt fund at $4 billion, $1.2 billion of which was raised from Korea.

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• Topics
• Australasia
• Fundraising
• Infrastructure
• Australia
• AMP Capital Investors
• Transportation
• healthcare
• energy