Private Equity: AMP Capital’s Global Infrastructure Fund II (GIF II) Fund Closes with $3.4B Kitty

January 15, 2020 | News, Private Equity

AMP’s second infra fund raised $400 million more than its target.

In an impressive encore, AMP Capital’s latest Global Infrastructure Fund II romped home with $3.4 billion. This was well-ahead of its targeted raise of $3 billion. The predecessor fund raised $2.4 billion in January 2017.

Global Infrastructure Fund II: Wide cross-section of investors

Investors included as many as 60 institutional clients such as public and corporate pension funds, fund of funds, insurance companies, family offices and sovereign wealth funds.

Further, the investors were drawn from across the globe including countries such as Japan, Singapore and Australia; the UK, Spain, Germany, Switzerland, Denmark and Finland; Saudi Arabia, Kuwait and the United Arab Emirates; the US and Canada.

Boe Pahari, global head of infrastructure equity, said: “This landmark close for GIF II is a significant step in the global growth of our infrastructure business, and our investments to date show we’re delivering on our broader strategy of delivering growth through real assets.”

“Our approach brings private equity-style rigour to infrastructure investing, influencing and delivering on business performance, and ensuring the provision of high-quality essential services with our strong heritage in ESG and responsible investment.”

Furthermore, according to Pensions&Investments, Ilmarinen Mutual Pension Insurance Co., Helsinki, which has €40.1 billion ($44.6 billion) in assets was among the investors in Global Infrastructure Fund II.

“We have been investor in Global Infrastructure Fund I already and this is logical follow up from that investment and reflects our positive experiences on AMP as an infrastructure manager,” Jukka Reijonen, head of alternative investments at Ilmarinen, said in an email to P&I.

Global Infrastructure Fund II is already investing

Focus sectors for GIF II are transport, communications, infrastructure health, and energy.

The fund has so far invested in London Luton Airport (image above) and specialist UK care provider Achieve Together.

Furthermore, in the US, GIF II’s current assets are Everstream, a Midwest fibre provider; Invenergy AMPCI Thermal Power; and Expedient, a provider of cloud computing and data centre services.

Related Story:  Gatwick Airport: An infrastructure investment that paid off handsomely for CalPERS             

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