IPIF launches $70m capital raising
Infrastructure Partners Investment Fund (IPIF) has launched a $70 million capital raising in response to demand from self-managed super fund (SMSF) and higher net worth investors.
The manager said it is seeking to expand the range of infrastructure asset exposures in its flagship fund, IPIF Core, which is designed for high-net-worth individuals, SMSFs and smaller institutional investors.
A priority allocation will be reserved for existing investors as well as allowing for potential new investors in the fund, IPIF said.
IPIF executive director, investments, Nicole Connolly said while there is high demand for infrastructure investments, unlisted infrastructure had been notoriously difficult to access for smaller investors.
“IPIF Core was created in early 2015 in response to this demand, opening up an opportunity for smaller investors to benefit from the attractive mix of income, capital growth and stability that infrastructure assets can provide, in a low-cost structure,” she said.
“The capital raise provides an opportunity to further diversify the portfolio with exposure to high-quality and essential infrastructure assets including Melbourne Airport, PowerCo in New Zealand and Reliance Rail.”
Connolly said IPIF Core, which has delivered performance of 9.5 per cent a year and attracted $100 million in funds under management since inception in January 2016, was now ready to enter its next phase of growth.
“We are pleased with the progress of IPIF Core to date and the level of interest we have received from direct investors and smaller institutional funds. The capital raising gives us the opportunity to respond to high levels of investor demand for access to this attractive asset class.”
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