The global investment manager raised $US6.2 billion to $US4 billion in its Infrastructure Debt Fund IV (IDF IV), $1.0 billion of co-investment rights, and a further $1.2 billion from investors seeking access to AMP Capital’s infrastructure debt deal capabilities.
The IDF IV easily surpassed its target of US$3.5 billion.
It is AMP Capital’s largest ever closed-end fund and the largest infrastructure debt fundraise in history.
“We’re thrilled with the level of interest we’ve received for our fourth infrastructure debt strategy,” said Andrew Jones, global head of infrastructure debt at AMP Capital.
“In less than a year, a total of 86 investors from 14 countries invested in IDF IV with strong demand from institutional investors in Korea, Japan, Canada and the UK.”
More than 30 institutional investors joined the infrastructure debt strategy for the first time, which AMP Capital believes is a testament to the increasing demand for low-risk infrastructure debt investments.
Approximately $US1.2 billion was raised in Korea alone.
More than $US2 billion of funds raised have already been allocated to 10 assets located around the world, including a district heating business in Europe and a data centre in North America.
“We’re now focused on securing quality investments to deploy the remainder of the capital with a focus on energy, utilities, digital technology and transport infrastructure in OECD and developed countries,” Mr Jones said.
“We have strong expertise in these sectors and are excited by the pipeline of investment opportunities we’re evaluating for our investors.”
The fundraise built on the success of the Infrastructure Debt Fund III, which raised $US2.5 billion and an additional $1.6 billion in co-investment and other commitments in 2017.
Since 2001, the AMP Capital infrastructure debt team has invested more than $US7.4 billion in 76 assets around the world.
