AMP Capital has started fundraising for its third infrastructure debt fund, according to a statement. The fund is targeting $2 billion in commitments from institutional investors. Infrastructure Debt Fund III will invest in utilities, energy and transport in OECD countries.
“IDF III looks to capitalize on the success of both IDF I and IDF II and the target size, which is double that of IDF II, reflects the strength of the infrastructure debt asset class as well as the investment pipeline created by our team,” said Andrew Jones, AMP Capital global head of infrastructure debt, in a statement.
IDF I closed in 2012 after raising $500 million. IDF II held a final close of $1.1 billion in November 2014, exceeding the fund’s $1 billion target. Since its closing, IDF II has secured 11 investments throughout Europe, the Americas and Australia. Some of those investments includesubordinated loans to Canadian renewable energy company Alterra Power Corp. and U.S. power generation facility Astoria Project Partners.