Legg Mason launches infrastructure fund with RARE Infrastructure
Legg Mason, the global asset management firm, has announced that it has launched the RARE Global Infrastructure Value Fund, their first US listed fund, for investors that are looking to access global infrastructure projects across geographies and sectors. The fund will trade on the NASDAQ exchange under the ticker RGSVX.
The fund is launching at a time when there is growing interest in investing in global infrastructure projects that service communities and help to improve competitiveness of economies by generating high productivity.
Infrastructure assets include physical structures, networks, developments and projects including transportation, energy, sewage, communications, water and social services-related projects.
Richard Elmslie, RARE Co-Chief Executive Office and Co-Chief Investment officer, stated:
“We believe what sets us apart is our deep understanding and passion for infrastructure assets that allows us to assess true market value of the projects through our diligent research process to potentially identify attractive opportunities for clients.”
In October 2015, Legg Mason closed the acquisition of a majority equity interest in RARE Infrastructure, Ltd., an investment firm headquartered in Sydney, Australia. The firm specializes in global listed infrastructure investments. The estimated value of the assets under management (AUM) for RARE Infrastructure was $6.8 billion at that date.
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