AMP Capital’s Asian Giants Infrastructure Fund has acquired its first asset in China, buying a 19 percent stake in Qujing Gas Co., the natural gas provider for Qujing City in Southern China. AMP plans to invest a total of $20 million into Qujing Gas, but did not disclose the amount paid for its initial investment. According to a report by Financial Standard, the price was $2 million.
The Asian Giants Infrastructure Fund — a closed-end fund that invests in direct infrastructure in China, India and other selected Asian countries — was launched in 2008 and has more than $160 million in commitments. AMP expects to close the fund to commitments during first quarter 2011.
Recently, the fund secured its first U.K. public authority pension fund client and a Japanese pension fund investor, with commitments of approximately $66 million in total.