Fundraising - FEBRUARY 24, 2016

AMP Capital raises $1b for global infrastructure platform

by Andrea Waitrovich

AMP Capital’s global infrastructure platform has raised more than $1 billion in new commitments as it nears its final close of $2 billion.

“Investors have come to understand the many benefits that infrastructure provides to a portfolio such as low volatility, high yield, GDP and inflation linkage, and low correlation with equities,” said Boe Pahari, managing partner of the AMP Capital Global Infrastructure Fund, in statement.

The Global Infrastructure Fund raised nearly $400 million cumulatively for its second and third closes.New investors have come from Japan, the Middle East, Denmark, Finland, Spain, Switzerland, Canada and the United States.

The investor commitments, combined with the global infrastructure platform’s existing portfolio of diversified European infrastructure equity assets, mean the platform is more than three quarters of the way toward meeting its target. 

The global infrastructure platform was launched in October 2014 when AMP Capital converted its Strategic Infrastructure Trust of Europe from an open-end to a closed-end European fund and launched the Global Infrastructure Fund.

The platform’s investment mandate is to focus on mature, brownfield assets that hold monopolies or long-term contracted revenues in sectors offering the best relative value such as transport, energy, communication and utilities.

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