Aberdeen Standard Investments (ASI) has raised $177 million for a new infrastructure IPO.
The closed-end fund, known as Aberdeen Standard Global Infrastructure Income Fund (ASGI), will actively invest in both public and private infrastructure equity investments around the world, setting it apart from any currently available ETF or open-ended mutual fund in the United States, according to ASI.
It will offer the diversification benefits of investing in private infrastructure, an option typically available only to institutional investors. In addition, the fund has granted the underwriters a 45-day option to purchase up to an additional 1.327 million common shares at the $20-per-share public offering price to cover over allotments, if any. If the underwriters exercise that option in full, the fund will have raised $203.5 million.
“ASI believes now is an excellent time to be investing in infrastructure as governments around the world are looking to infrastructure i
