QIC has raised AUD1bn ($800m) for its Global Infrastructure Fund, with backing from China.
Institutional investors including a Chinese insurer and Australian pension fund Hostplus backed the fund.
An Asian sovereign wealth fund and two foundation QIC clients also committed to the platform.
QIC said it made a co-investment in the unlisted vehicle.
Ross Israel, head of QIC Global Infrastructure, said the fund had a “strong potential investment pipeline”.
QIC said the fund would aim for “attractive” risk-adjusted returns through long-term exposure to a diversified portfolio in developed OECD countries.
The fund is targeting total capital commitments of AUD1.75bn.
QGIF, launched earlier this year, will invest in transport, energy utilities and public/private partnerships.
The first close allows it to begin investing.
Earlier this year, QIC, which currently manages more than £2.7bn (€3.8bn) in direct transport, utilities and public/private partnership assets, hired Paul Costello as independent chairman of its Global Infrastructure Investment Committee.