AMP Capital acquires infrastructure fund
AMP Capital Investors is to acquire the $80 million RBS Social Infrastructure Trust, which will be known as the AMP Capital Community Infrastructure Fund once AMP Capital takes over as responsible entity.
AMP Capital global head of infrastructure Phil Garling said the acquisition further established AMP Capital in the growing Public Private Partnership (PPP) infrastructure asset class, and AMP Capital would be looking to grow and diversify the portfolio.
“We plan to raise additional equity and continue to seek strong, stable, PPP infrastructure assets to acquire to complement the existing portfolio,” Garling said.
Investors concerned about a high inflation environment developing might be attracted to the long-term CPI linked cash flows, while AMP Capital’s Infrastructure Equity Fund would also take a cornerstone investment in the fund, he said.
Assets in the portfolio include Schools II (NSW), Emergency Alerting System (Vic), Southbank Institute (Qld) and Darwin Convention Centre (NT).
RBS head of Asia Pacific non-core portfolio and banking Alun Lewis said the sale of the fund is part of RBS’ continued progress towards a strategic plan of exciting non-core activities.
AMP Capital’s Julie-Anne Mizzi has been appointed as portfolio manager, while Trent Mikkonnen and Natalie O’Brien will join AMP Capital from RBS as asset managers.
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