The QIC Global Infrastructure Fund (QGIF) has been closed at 50 per cent of target, and will now begin its investment period.
QIC head of global infrastructure Ross Israel said: “I’m delighted by the level of support and fund commitments that QGIF has been able to secure in this first close as a result of our focused marketing efforts and a strong potential investment pipeline.”
The fund aims to provide institutional investors with long-term exposure to a diversified portfolio of global infrastructure assets.
Investors will be exposed to a range of infrastructure assets in developed OECD countries, with a focus on Australia.
Australian super fund Hostplus, an Asian sovereign wealth fund and Chinese insurer have invested in the fund.
According to QIC, the fund is targeting $1.75 billion of total capital commitments.
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