Australia's Hastings raises $626m for infrastructure fund
Hastings Funds Management announced that its Utilities Trust of Australia (UTA) has reached a first close on its infrastructure fund with commitments of A$610 million ($626 million). The amount is in line with expectations outlined in January 2012 and includes contributions from existing and new investors.
Established in 1994, UTA is an unlisted unit trust that invests in infrastructure projects globally. It has delivered returns exceeding 11% per annum since inception and has a portfolio of 17 investments...
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