AMP Capital raises $540m in first close of global infrastructure fund

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AMP Capital raises $540m in first close of global infrastructure fund

AMP Capital has raised more than US$540 million in new commitments for its global infrastructure platform during the last six months.

As part of the current fundraising program, the AMP Capital Global Infrastructure Fund has reached its first close, attracting commitments from investors from countries such as Japan, Australia, the US, Canada, Ireland and Belgium. Investors have also made significant commitments to the European portion of the global infrastructure platform.

AMP Capital Global Infrastructure Fund Managing Partner Boe Pahari said:

"We are thrilled our global infrastructure platform has attracted so much interest from around the world.  Institutional investors have responded positively to our strategy, which is to focus on mature, brownfield assets that hold monopolies or long-term contracted revenues in sectors offering the best relative value."

"AMP Capital's global infrastructure platform seeks to offer investors the combination of stable cash yields and growth that they are looking for and its attractiveness is further proof of the continued strength of infrastructure as an asset class."

AMP Capital's global infrastructure platform is targeting a final size of approximately US$2 billion. The investor commitments, combined with the existing portfolio of diversified European infrastructure equity assets worth approximately US$750 million, mean the platform is more than half way towards meeting its target.

Mr Pahari added:

"Investors in the global infrastructure platform benefit from immediate access to an impressive portfolio of six high-quality, cash-yielding infrastructure assets. The funds committed to the platform to date and any future flows will be used to acquire additional assets in OECD countries in sectors such as transport, energy, communication and utilities."

"There are a number of great opportunities in the middle market right now and AMP Capital's experienced team of more than 60 infrastructure professionals around the world is exploring a number of these."

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