AMP Capital has raised $540m (€497.1m) for its infrastructure platform which hosts its global and European infrastructure funds.
The first close attracted commitments from investors in Japan, Australia, the US, Canada, Ireland and Belgium.
Part of the commitments were made to the European portion of the offering, with the global platform having a target raise of $2bn.
AMP Capital said there is already an existing commitment of $750m invested in European infrastrcuture, and combined with the latest raise, takes over halfway to its target.
Managing partner Boe Pahari said institutional investors responded positively to the firm’s strategy, which is focusing on mature, brownfield assets that hold monopolies or long-term contracted revenues in sectors offering the best relative value.
Pahari said investors would benefit from “immediate access” to six cash-yielding infrastructure assets.
Funds committed to the platform and any future flows will, he said, be used to buy additional assets in OECD countries in sectors such as transport, energy, communication and utilities.
“There are a number of great opportunities in the middle market right now, and AMP Capital’s experienced team of more than 60 infrastructure professionals around the world is exploring a number of these,” Pahari said.
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