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AMP Capital has commenced fundraising for its Infrastructure Debt Fund III (IDF III), which is targeting US$2 billion in commitments from institutional investors around the world.
IDF III is AMP Capital’s third infrastructure debt fund in five years and comes less than a year after AMP Capital closed its hugely successful IDF II. IDF II raised US$1.1 billion and attracted US$250 million of additional co-investment pledges.
IDF III will be targeted towards institutional investors seeking yield; in particular, pension plans and insurance companies. The fund will invest in key sectors such as utilities, energy and transport in OECD countries.
AMP Capital Global Head of Infrastructure Debt Andrew Jones said: “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.”
IDF I is fully invested while IDF II, which has a four-year investment period, has already secured 11 investments spread across Europe, the Americas and Australia.
AMP Capital’s global infrastructure debt team has ten investment professionals located in London, New York and Sydney. The investment team has successfully invested more than US$2.75 billion in 53 infrastructure debt assets since 2001.
This article has been prepared to provide general information and does not constitute 'financial advice' for the purposes of the Financial Advisors Act 2008 (Act). An individual investor should, before making any investment decisions, consider the information available in the relevant Product Disclosure Statement and seek professional advice. While every care has been taken in the preparation of this document, AMP Capital Investors (New Zealand) Limited and the AMP Group (together, 'AMP') make no guarantee that the information supplied is accurate, complete or timely and do not make any warranties or representations in respect of results gained from its use. The information is not intended to infer that current or past returns are indicative of future returns. The views expressed are those of the author and do not necessarily reflect those of AMP. These views are subject to change depending on market conditions and other factors.