Institutional investors flock to AMP Capital fund
Seventeen institutional investors from Australia, Japan, the UK, Korea and Switzerland have anted up more than US$300 million to complete the first close of the AMP Capital Infrastructure Debt Fund II.
The first close was confirmed by AMP Capital this week, with the company saying the fund would invest in the subordinated debt of infrastructure assets in essential services such as water, gas, electricity and transportation in Europe, North America and Australia.
The company said the launch of the fund followed on from the success of AMP Capital's first Infrastructure Debt Fund which closed to new investment in June 2012 after raising US$503 million from 30 global institutional investors.
Commenting on the close of the fund, AMP Capital Global Head of Infrastructure Debt, Andrew Jones said investors globally were seeking stable high cash yield, defensive and predictable investments and that was why the company had been successful in attracting clients to the fund.
"We've also completed the Fund's first investment, securing a £50 million subordinated loan to Heathrow Airport," he said.
As well, he said the fund team was pursuing a strong pipeline of attractive investment opportunities and expected to announce further investments shortly.
Recommended for you
With the final tally for FY25 now confirmed, how many advisers left during the financial year and how does it compare to the previous year?
HUB24 has appointed Matt Willis from Vanguard as an executive general manager of platform growth to strengthen the platform’s relationships with industry stakeholders.
Investment manager Drummond Capital Partners has announced a raft of adviser-focused updates, including a practice growth division, relaunched manager research capabilities, and a passive model portfolio suite.
When it comes to M&A activity, the share of financial buyers such as private equity firms in Australia fell from 67 per cent to 12 per cent in the last financial year.
