AMP Capital has announced a record US$6.2 billion fundraise for its fourth infrastructure debt strategy, which includes the final close of the AMP Capital Infrastructure Debt Fund IV (IDF IV), co-investment rights and separately managed account commitments.
Central to the fundraise is the final close of the IDF IV, which reached its hard cap of US$4.0 billion, surpassing its US$3.5 billion target. An additional US$1.0 billion was secured in co-investment rights and a further US$1.2 billion from investors wanting access to AMP Capital’s infrastructure debt deal capabilities.
This is AMP Capital’s largest closed-end fund ever and is believed to be the largest fundraise in the world for an infrastructure mezzanine debt strategy.
AMP Capital Global Head of Infrastructure Debt Andrew Jones said: “We’re thrilled with the level of interest we’ve received for our fourth infrastructure debt strategy. In less than a year, a total of 86 investors from 14 countries invested in IDF IV with strong demand from institutional investors in Korea, Japan, Canada and the UK.
“More than 30 institutional investors joined the strategy for the first time, which is testament to the growth of our global distribution network and an indication of the increasing demand for infrastructure debt investments. Approximately US$1.2 billion was raised in Korea alone, where we continue to have strong interest from new and existing clients.”
During the year, more than US$2 billion of funds raised has been deployed into 10 high-quality assets located around the world, including a district heating business in Europe and a data centre in North America.
Mr Jones commented: “We’re now focused on securing quality investments to deploy the remainder of the capital with a focus on energy, utilities, digital technology and transport infrastructure in OECD and developed countries. We have strong expertise in these sectors and are excited by the pipeline of investment opportunities we’re evaluating for our investors.”
The successful fundraise continues AMP Capital’s growth momentum in real assets – infrastructure and real estate – and further cements its reputation as a global leader in both equity and debt investments.
The fundraise follows the success of AMP Capital’s Infrastructure Debt Fund III, which raised US$2.5 billion and an additional US$1.6 billion in co-investment and other commitments in 2017.
AMP Capital’s infrastructure debt team comprises 16 investment professionals located in London, New York and Sydney. Since 2001 the team has invested more than US$7.4 billion in 76 assets.
About AMP Capital
AMP Capital is a global investment manager with A$200 billion in funds under management as of 30 June 2019 and more than 250 investment professionals. AMP Capital has a heritage and strength in real estate and infrastructure, and experience in fixed income, equities and multi-asset solutions. Its majority shareholder is AMP Limited, which was established in 1849, and is one of Australia's largest retail and corporate pension providers. AMP Capital has a strategic alliance with Mitsubishi UFJ Trust and Banking Corporation, which is also a shareholder.
