AMP Capital is taking its first steps into Japan’s infrastructure sector, advising a newly created renewable energy company.
The investment manager said it would advise GII on investments in Japan.
Mitsubishi UFJ Trust and Banking Corporation (MUTB), which has a 15% stake in AMP Capital, is a silent partner in GII, which is focused on solar photovoltaic generation facilities across Japan.
MUTB will offer Japanese institutional investors the opportunity to invest in renewable assets through a fund vehicle.
Local pension plans looking for investment opportunities providing stable cash flow and low correlation to traditional asset classes such as equities will be targeted.
AMP Capital said GII was aiming to take advantage of growing demand in Japan for clean energy.
AMP Capital chief executive Anthony Fasso said: “There has been a lot of focus on expanding the renewable energy sector as part of a shift in Japan towards such clean energy, and there is a growing need for funding for both brownfield and greenfield renewable energy projects.”
The company’s first acquisition will be an operating, 2MW solar power generation facility in Miyazaki.
Over the last two years, MUTB and AMP Capital have launched six retail funds, raising capital for AMP Capital’s Infrastructure Debt Fund II and Global Infrastructure Fund.