Dai-ichi Life invests in infrastructure debt fund
The Dai-ichi Life Insurance Company, Limited has made a commitment to invest JPY10 billion (US$99 million) as seed money to the Cosmic Blue PF Trust Lily, an infrastructure debt fund which invests in overseas infrastructure project finance.
The Cosmic Blue PF Trust Lily JPY denominated full-scale global infrastructure debt fund managed by Mizuho Global Alternative Investments, Ltd (MGAI), a subsidiary of Mizuho Bank, Ltd. The fund aims to achieve long term stable income gains by investing in debts for projects which generate predictable cash flows, such as projects after construction period and projects secured by long term offtake agreements.
The company and MGAI cooperatively developed the investment scheme of the fund. The fund converts foreign currency denominated cash flows from overseas project finance debts into JPY, efficiently monitors credit of underlying projects and properly manages the debts.
By investing in the fund, investors will be able to have a diversified portfolio in overseas project finance market which is estimated to be approximately JPY30 trillion per annum.
Since 2013, Dai-ichi Life Insurance Company, Limited has been actively and continuously investing in new asset classes such as infrastructure and project finance.
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