A new infrastructure fund, advised by former John Laing Infrastructure Fund advisers, is looking to raise £200m (€170m) by listing on the London Stock Exchange.
Tri-Pillar Infrastructure Fund will invest in assets located predominantly in North America and continental Europe
It will be advised by CAMG, an investment team led by Andrew Charlesworth, who co-led the initial public offering (IPO) of John Laing Infrastructure Fund in 2010.
Charlesworth, who left John Laing earlier this year, will advise the fund alongside Ian Ruddock, Vikki Everett and Norman Anderson.
The company said it plans to generate an attractive level of income and capital-growth potential by investing in a diversified portfolio of infrastructure assets, targeting a yearly dividend yield of 4.5%.
Charlesworth said the investment proposition was fundamentally different to traditional infrastructure funds.
“Firstly, we will have a wider geographic focus, capitalising on the significant and growing requirement for infrastructure in both continental Europe and North America,” he said.
“Secondly, we will target assets that offer greater scope for value enhancement, which includes assets that require refurbishment or construction.
“Thirdly, we will also focus increasingly on assets where revenues are based on the level of usage or third-party revenues, as opposed to the more traditional availability-based assets which are largely government-backed and where there is increasing competition in the investment market.”
Charlesworth said a strong pipeline of investments had been identified. “We are in advanced or active discussions for assets totalling approximately £190m,” he said.
Tri-Pillar’s shares are expected to commence trading on 8 December.
