Queensland Investment Corporation (QIC) has announced the final close for the extension of the QIC Global Infrastructure Fund (QGIF). The fund's extension has reached its hard cap of AUD1 billion (US$0.75 billion) within a seven-month period.

The fund has received the majority of commitments from existing investors, in addition to two new ones. The QGIF extension capital will target bolt-on opportunities within existing assets and some new thematically linked investments. Almost half of the extension capital is already invested. The investments form part of the fund's focus on sustainable infrastructure during 2021. 

The first transaction included the acquisition of Tilt Renewables by PowAR (Powering Australian Renewables). The second was an investment in the US distributed infrastructure platform Generate Capital with QIC as lead investor. The third was the acquisition of CenTrio (formerly Enwave Energy US) in the US.