A new open-end infrastructure debt fund set up by M&G Investments has got the backing of The Dai-ichi Life Insurance Company as a lead investor.
The Japanese insurer said it made a lead investment of £70m (€80m) in M&G Infrastructure Loan Fund.
Formed in February this year, the fund will invest in infra-related project finance loans and bonds, which are mainly for railways, schools, hospitals in European countries.
Dai-ichi said by investing in the fund, it aims to further expand investment opportunities in attractive project finance loans and bonds by utilising M&G’s network with Japanese and global commercial banks.
Dai-ichi has been investing in infrastructure debt funds since 2016 as part of its efforts to enhance asset management.