Italian doctors’ scheme Enpam plans to invest up to €300m in infrastructure funds with a focus on Europe
The €25bn pension fund said it is planning to select alternative investment funds for diversified investments in the energy, utilities, transportation, telecommunications, and logistics infrastructure sub-sectors.
Enpam is seeking to select infrastructure funds managed by managers with at least €3bn in assets under management. The infrastructure funds should have a gross asset value target of at least €1bn, it said.
Enpam said it expects to target direct investment in closed-ended infrastructure funds, bypassing allocations to funds-of-funds and debt-credit funds.
The pension fund targets 30% of its total assets to be invested in real assets, including 28% in real estate in Italy and abroad, and 2% in infrastructure.
Enpam’s board also approved up to a €200m commitment to Macquarie European Infrastructure Fund 7 ( MEIF7) and up to €100m commitment to the Igneo Infrastructure Partners-managed European Diversified Infrastructure Fund III fund.
Earlier this week, Macquarie Asset Management said it had raised over €8bn for MEIF7, its latest European infrastructure fund.
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