Allco has raised $200 million for its new Global Transport and Infrastructure Fund from a single unnamed Australian institutional investor.
The wholesale fund has now been temporarily closed, however, Allco will re-open the fund later this year to raise up to $450 million from a limited number of investors. It is expected to close by year’s end.
The seed assets in the new fund will include five European wind farms, three aircraft and a share of a 27-ship portfolio.
All have been on Allco’s balance sheet as part of $60 billion of deals in the transport and infrastructure industries undertaken by the company since 1979.
Future investment in the fund will include further aviation, shipping, rail and specialised infrastructure assets that will provide absolute returns.
The transport and infrastructure fund will have Tze Masters as its chief investment officer.
He has extensive experience in the asset classes, having worked in similar roles at Allco Finance group and prior to that managing a $1.6 billion portfolio of aviation, shipping, rail and mining assets for GATX Corporation.
Also joining the board of the new fund will be former ASX chief financial officer John Hayes and Gresham Partners adviser Will Jephcott.
