AMP Capital has raised more than $300 million from 17 institutional investors from Australia, Japan, South Korea, Switzerland and the United Kingdom to complete the first close of the AMP Capital Infrastructure Debt Fund II (IDF II). AMP raised capital from a leading Korean insurance firm and secured a commitment from its first Swiss client. AMP also was helped by its business partner Mitsubishi UFJ Trust & Banking Corp., which marketed the fund to its clients.
IDF II will invest in the subordinated debt of 10 to 15 companies in the water, gas, electricity and transportation sectors located in Europe, North America and Australia.
“We’ve completed the fund’s first investment, securing a £50 million ($77.7 million) subordinated loan to Heathrow Airport,” Andrew Jones, head of infrastructure debt with AMP, said in a statement. “The team is pursuing a strong pipeline and expects to announce further investments shortly.”
IDF II is the follow-up fund to AMP Capital’s first infrastructure debt fund, which closed to new investment in June 2012 with $503 million raised from 30 global institutional investors.
AMP Capital has an eight-person global infrastructure debt team in London, New York City and Sydney. As of June 30, the team has invested more than $1.8 billion in 38 infrastructure debt assets since 2001.