AMP Capital Raises $4.1B For Third Infrastructure Strategy

Aug 21 2017 | 5:00pm ET

Australian alternative investment manager AMP Capital has raised more than $4.1 billion for its third infrastructure debt strategy, including $2.5 billion for its mezzanine debt strategy, $800 million in co-investment rights, and an additional $800 million from investors wishing access to the company’s deal capabilities.

The mezzanine fund, named AMC Capital Infrastructure Debt Fund III, closed at its hard cap and well in excess of its original $2 billion target, the company said in a statement. More than 125 investors from 12 countries participated in the raise, the company added, with strong interest from institutional investors in Japan, Korea, Canada and Germany.

The effort is AMP’s third infrastructure debt fund in the past six years. The company’s first infrastructure fund raised $500 million in 2012, followed by $1.1 billion for AMP Capital Infrastructure Debt Fund II in November 2014. 

“Infrastructure mezzanine debt appeals to investors looking for an attractive yield with capital stability and it is growing in prominence among pension plans and insurance companies in particular,” said AMP Capital Global Head of Infrastructure Debt Andrew Jones in the statement. The fund has a four-year investment period.

AMP’s infrastructure team has invested more than $3.5 billion in 59 infrastructure debt assets since 2001. One of the largest investment managers in Asia Pacific, AMP has some $119.8 billion in AUM concentrated on real estate, infrastructure, fixed income, equities and multi-asset solutions.

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