AMP Capital completes first IIF investment
AMP Capital has completed a first investment for the Irish Infrastructure Fund.
It announced this week that the fund had acquired a controlling stake in a portfolio of wind farms in the Republic of Ireland and Northern Ireland.
It represented the first investment completed by the Irish Infrastructure Fund, being managed by AMP Capital, which is seeking up to €1 billion from global and Irish institutional investors.
It has already secured €300 million from the National Pensions Reserve Fund and other Irish institutional investors.
Commenting on the first investment, AMP Capital managing director for Europe and head of infrastructure Europe Boe Pahari said Ireland benefited from one of the most attractive wind resources in Europe.
AMP Capital's role is to acquire and manage the fund's portfolio of assets, with the company suggesting it will continue to focus on infrastructure assets which underpin the Irish economy, with the objective of preserving and enhancing long-term value for institutional investors in the fund.
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