Dai-ichi Life Insurance Co. has teamed up with Asset Management One Alternative Investments (AMOAI) to launch its second infrastructure debt fund, Cosmic Blue PF Lotus FCP-RAIF fund.
An initial funding of 20 billion yen ($176 million) came from Japan’s second largest private insurer.
The fund will offer attractive investment opportunities to investors and will support the financing of the infrastructure industry, which is indispensable for the sustainable growth of countries and local communities in which it invests. The fund aims to provide long-term stable income to institutional investors such as life insurance companies and pension funds by offering globally diversified portfolio in project finance debt.
Moreover, to further capture attractive investment opportunities, the fund will expand its investment target from secondary to primary and will be involved in deals from origination.
The fund is managed by AMOAI, the wholly owned alternative investment arm of Asset Management One, which is 30 percent–owned by Dai-Ichi Life and 70 percent, by Mizuho Financial Group.
AMOAI will collaborate with Mizuho Financial Group’s banking unit, Mizuho Bank, by tapping into the lender’s infrastructure loan assets and expertise in project finance.
The fund is the second infrastructure debt fund managed by AMOAI, as an investment management company, after Cosmic Blue PF Trust Lily, which was launched in July 2016. Cosmic Blue PF Trust Lily received internationally recognized awards in March 2018 in the field of infrastructure and private debt investment.
