AMP Capital’s second global infrastructure fund has raised US$3.4bn (€3.1bn) from more than 60 institutional clients from across the globe.
The manager said the Global Infrastructure Fund II (GIF II) fund, which reached final close on 27 December 2019, exceeded its $3bn target and “drawing additional significant co-investment commitments”.
The predecessor fund raised US$2.4bn in January 2017.
GIF II received commitments from investors, including clients in Japan, Singapore and Australia; the UK, Spain, Germany, Switzerland, Denmark and Finland; Saudi Arabia, Kuwait and the United Arab Emirates; the US and Canada.
These investors include public and corporate pension funds, fund of funds, insurance companies, family offices and sovereign wealth funds, the manager said.
Boe Pahari, global head of infrastructure equity at AMP Capital, said: “This landmark close for GIF II is a significant step in the global growth of our infrastructure business, and our investments to date show we’re delivering on our broader strategy of delivering growth through real assets.
“Our approach brings private equity-style rigour to infrastructure investing, influencing and delivering on business performance, and ensuring the provision of high-quality essential services with our strong heritage in ESG and responsible investment.”
GIF II will target transport, communications, infrastructure health and energy assets.
The fund has so far invested in London Luton Airport and specialist UK care provider Achieve Together. In the US, GIF II’s current assets are Everstream, a Midwest fibre provider; Invenergy AMPCI Thermal Power; and Expedient, a provider of cloud computing and data centre services.