AMP Capital announces the close of Global Infrastructure Fund II (GIF II) at US$3.4bn. The fund reached final close on 27 December 2019, exceeding its US$3bn target and drawing additional significant co-investment commitments.
GIF II attracted global interest, with commitments from more than 60 institutional clients from across the globe, including Japan, Singapore and Australia; the United Kingdom, Spain, Germany, Switzerland, Denmark and Finland; Saudi Arabia, Kuwait and the United Arab Emirates; the United States and Canada. These investors include public and corporate pension funds, fund of funds, insurance companies, family offices and sovereign wealth funds.
Boe Pahari, Global Head of Infrastructure Equity at AMP Capital, commented: “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.”
GIF II seeks to deploy capital across the four sectors best positioned to benefit from the evolution of infrastructure in the current market environment: transport, communications, infrastructure health and energy. To date the fund has transacted across all four of these target sectors, securing five high quality, diversified businesses with growth potential, at compelling valuations.
In the United Kingdom, GIF II has invested in London Luton Airport, the fifth largest airport in the UK serving the fast-growing London market, and Achieve Together, the third largest specialist care provider in the UK with more than 350 services and 2,300 beds, which was created from the merger of two of the highest-quality businesses in the UK care sector, the Regard Group and Care Management Group.
In the United States, GIF II’s current assets are Everstream, a leading Midwest fiber provider; Invenergy AMPCI Thermal Power, a joint venture investing in a gas-fired power generation portfolio to support the energy transition in multiple power markets in the US, Canada and Mexico; and Expedient, a provider of cloud computing and data center services operating across eight markets.
AMP Capital’s global infrastructure equity strategy team comprises 48 investment professionals based in offices in Europe, the United States and Asia Pacific and 13 senior advisers.
About AMP Capital
AMP Capital is a global investment manager with US$140 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.