Canada's Cordiant Capital to raise $1 billion for infrastructure
Canadian emerging markets PE, debt and infrastructure investment firm Cordiant Capital is set to raise $1 billion for a new infrastructure fund in developing markets worldwide, according to reports.
The news, first reported by the Financial Times, comes nearly a year after Cordiant was asked by the World Bank's investment arm International Finance Corp. to manage its Infrastructure Crisis Facility, a $500 million+ vehicle that funds infrastructure projects in emerging markets. Cordiant's new fund may grow to up to $2 billion, reports added.
According to Cordiant's website, the firm has seen $2.4 billion in subscriptions since its 1999 launch, via investments in regions such as Asia, Africa, Eastern Europe and Latin America. Cordiant's further partnerships include the $212 million Canada Investment Fund for Africa, which it co-manages with the Canadian government.
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