The two super funds have agreed to invest in the AMP Community Infrastructure Fund (CommIF).
According to a statement by AMP Capital, the funds will be used to acquire additional assets for CommIF.
AMP Capital social infrastructure investment director Julie-Anne Mizzi said the new mandates follow a strong 2013 for CommIF.
Last year, CommIF completed three deals worth $525 million ‘enterprise value’ (i.e. the value of the equity and the debt).
“The deals included the Partnerships in Victoria Schools Project, water asset AquaTower and the South East Queensland Schools Public Private Partnership,” said the AMP Capital statement.
CommIF also won $100 million in mandates from institutional clients, said Ms Mizzi.
“Our clients are searching for investments that offer stable, long-term and diversified income streams from low-risk projects. Increasingly, they want to invest in projects that have a tangible community benefit, which is why we’re seeing increased interest in CommIF,” she said.
LGS chief investment officer Craig Turnbull added: “LGS has a strong focus on environmental, social and governance themes. Investing in CommIF therefore aligns with our overarching objective to pursue investments that are in the best interests of our members.”
