AMP Capital’s global infrastructure platform has raised more than US$1 billion in new commitments as it nears its final close of US$2 billion.
The Global Infrastructure Fund raised approximately US$400 million cumulatively for its second and third closes, according to a release from AMP Capital yesterday.
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 towards meeting its target, AMP Capital stated.
“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, and we continue to be encouraged by the increasing demand for AMP Capital’s global infrastructure platform,” said AMP Capital’s global infrastructure managing partner Boe Pahari.
The global infrastructure platform was launched in October 2014 when AMP Capital converted its Strategic Infrastructure Trust of Europe from an open-ended to a closed-ended 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, AMP Capital said.