AMP Capital second infrastructure debt fund reaches US$750 million

31 March 2014   Category: News, Asia, Global   By Asia Asset Management

AMP Capital has raised another US$450 million to complete a further close of the AMP Capital Infrastructure Debt Fund II (IDF II), which takes the total amount committed to the fund to more than $750 million.

Since it was launched in August last year, IDF II has attracted 40 institutional investors from Japan, South Korea, Hong Kong, the United Kingdom, Switzerland and the United States. China Life, through its Hong Kong-based subsidiary, is one of the investors to participate in the latest close.

Anthony Fasso, CEO international and head, global clients at AMP Capital Investors, said: “The momentum we’re experiencing in raising funds for IDF II is very pleasing and we are on track to meet our final target of $1 billion. This reflects the increased interest in infrastructure debt globally. Specifically, investors who have joined IDF II like our defensive strategy and focus on delivering stable, attractive yields.

“I’m looking forward to completing fundraising later this year and making additional investments in quality assets for IDF II. We have a strong pipeline and are seeing many opportunities to invest capital in mature markets.”

AMP Capital has been investing in the subordinated debt of infrastructure assets since 1998 and now has a team of ten infrastructure debt investment professionals located in London, New York and Sydney. AMP Capital’s first debt fund, IDF I, was closed to new investment in 2012 after raising $500 million globally. 

IDF II had its first close in August 2013, with 17 investors contributing more than $300 million. Since then, AMP Capital has announced a number of investments for the fund including a subordinated debt financing for New York City-based power generation facility Astoria Project Partners in January 2014.