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
Net cash flow on AMP’s platforms saw a substantial jump in the last quarter to $740 million, while its new digital advice offering boosted flows to superannuation and investment.
Insignia Financial has provided an update on the status of its private equity bidders as an initial six-week due diligence period comes to an end.
A judge has detailed how individuals lent as much as $1.1 million each to former financial adviser Anthony Del Vecchio, only learning when they contacted his employer that nothing had ever been invested.
Having rejected the possibility of an IPO, Mason Stevens’ CEO details why the wealth platform went down the PE route and how it intends to accelerate its growth ambitions in financial advice.
