Executives from the London-based infrastructure fund manager Ancala Partners are due to arrive in Australia next week to raise €600m capital for its latest fund.
Sources told IPE Real Assets that Ancala, which is making its first foray into Australia, is planning to raise the amount, with a hard cap of around €900m.
They said Ancala will target small to mid-sized Australian industry super funds In Sydney, Melbourne and Brisbane.
Ancala’s message to Australian super funds is that it will provide an entrée into the infrastructure markets of EU countries, the UK, Switzerland, Norway and Iceland.
Ancala, founded by Spence Clunie, already has more than €1bn invested in core mid-market infrastructure assets, including gas pipelines, wastewater and hydropower plants.
Ancala Partners launched the Mid-Market Infrastructure Platform, a UK infrastructure vehicle, in 2016 with an initial raising of £160m (€205m).
The first fund, which is almost fully invested, had its final close in January 2017, raising a total of £400m for the platform.
Ancala has just launched a second fund and has extended its equity raising to Australia, seeking to tap into the country’s rich super saving pool.
Spence Clunie and colleague Tim Power are expected to lead the Ancala team for meetings with Australian super funds in the three target cities.