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IFC holds $1.2 billion final close for global infrastructure fund

by Andrea Waitrovich, released 10/8/13

IFC Asset Management Co. (AMC), a subsidiary of the International Finance Corp. (IFC), held a $1.2 billion close for its IFC Global Infrastructure Fund on Oct. 8. The firm exceeded its $1 billion target. The fund received capital commitments from 11 investors, including IFC and Singapore sovereign wealth fund GIC as anchor investors, and nine sovereign wealth fund and pension fund investors from Asia, the Middle East, Europe and North America.

The fund will make equity and equity-related investments alongside IFC in a broad range of infrastructure sectors in developing countries. It will be managed by an AMC team based in Washington, D.C., and Singapore. The IFC Global Infrastructure Fund aims to create a well-balanced portfolio diversified by region and by subsector, with investments in sectors such as power, transport, utilities and telecommunications.

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