AMP Capital announced January 13 the close of Global Infrastructure Fund II (GIF II) at US$3.4 billion. The fund reached final close on December 27 2019, exceeding its US$3 billion target and drawing additional significant co-investment commitments.
GIF II attracted global interest, with commitments from more than 60 institutional clients from across the globe, including Japan, Singapore and Australia; the United Kingdom, Spain, Germany, Switzerland, Denmark and Finland; Saudi Arabia, Kuwait and the United Arab Emirates; the United States and Canada. These investors include public and corporate pension funds, fund of funds, insurance companies, family offices and sovereign wealth funds.
GIF II seeks to deploy capital across the four sectors best positioned to benefit from the evolution of infrastructure in the current market environment: transport, communications, infrastructure health and energy. To date the fund has transacted across all four of these target sectors, securing five diversified businesses with growth potential at compelling valuations.
In the United Kingdom, GIF II has invested in London Luton Airport, the fifth largest airport in the UK serving the fast-growing London market, and Achieve Together, a specialist care provider in the UK with more than 350 services and 2,300 beds, which was created from the merger of two businesses in the UK care sector, the Regard Group and Care Management Group.
In the United States, GIF II’s current assets are Everstream, a Midwest fibre provider; Invenergy AMPCI Thermal Power, a joint venture investing in a gas-fired power generation portfolio to support the energy transition in multiple power markets in the US, Canada and Mexico; and Expedient, a provider of cloud computing and data centre services operating across eight markets.