AMP Capital strikes first blow for new fund
AMP Capital Investors has taken a US$25 million minority equity stake in Indian company Gayatri Infra Ventures (GIVL) in accordance with an agreement to acquire the first investment for its new Asian Giants Infrastructure Fund (AGIF).
As manager of AGIF, AMP Capital Investors is looking to raise up to US$750 million from institutional clients to invest in infrastructure projects predominantly in India and China, but also in South Korea, Taiwan, Malaysia, Hong Kong and Singapore.
In line with the GIVL investment, AGIF will invest primarily in utilised entities engaged in the development, ownership or operation of infrastructure, according to AMP Capital Investors’ global head of infrastructure, Philip Garling.
“Rapid urbanisation and population growth are driving the need for growth in social and economic infrastructure, with the infrastructure spend requirement in Asia estimated to be three times higher than the global average,” he said.
Initial fundraising for AGIF is scheduled to close on August 29.
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