AMP targets $2 billion for new infrastructure fund
AMP Capital is aiming to secure US$2 billion through institutional investors as it launches the Infrastructure Debt Fund III.
The new fund will have a five-year lifecycle and comes less than a year after AMP closed the IDF II, which attracted US$1.1 billion.
IDF III will be targeted towards institutional investors seeking yield; in particular, pension plans and insurance companies, AMP Capital global head of infrastructure debt, Andrew Jones said.
The fund will invest in key sectors such as utilities, energy and transport in OECD countries.
"IDF III looks to capitalise on the success of both IDF I and IDF II and the target size, which is double that of IDF II, reflects the strength of the infrastructure debt asset class as well as the investment pipeline created by our team. For IDF III, we will continue to focus on finding compelling mezzanine opportunities in infrastructure businesses in developed countries.
"We are excited by the interest in IDF III from both existing and prospective investors in our infrastructure debt strategies. Investors have told us they are looking for investments with high yield and stable returns, both characteristics of infrastructure debt and what our IDF I and II funds have delivered to their investors."
Recommended for you
Clime Investment Management has faced shareholder backlash around “unsatisfactory” financial results and is enacting cost reductions to return the business to profitability by Q1 2025.
Amid a growing appetite for alternatives, investment executives have shared questions advisers should consider when selecting a private markets product compared to their listed counterparts.
Chief executive Maria Lykouras is set to exit JBWere as the bank confirms it is “evolving” its operations for high-net-worth clients.
Bennelong Funds Management chief executive John Burke has told Money Management that the firm is seeking to invest in boutiques in two specific asset classes as it identifies gaps in its product range.
