Northleaf Capital Partners has closed its second OECD-focused pooled infrastructure fund, Northleaf Infrastructure Capital Partners II (NICP II), at its $950 million hard-cap target. NICP II, which was launched in 2015, will focus on direct investments in small to mid-sized infrastructure assets in developed markets. The fund has already made its first two investments: a portfolio of U.K. bulk liquid storage assets and a portfolio of U.S. wind and solar assets. It also recently agreed to acquire a stake in Northwest Parkway, a Denver, Colorado highway system. The $2.5 billion infrastructure program of Northleaf, a Canadian private-markets investor, operates from offices in Toronto and London.
Northleaf Infrastructure Capital Partners II holds final close at $950 million hard cap
TORONTO (January 24, 2017) – Northleaf Capital Partners (Northleaf) announced today that it has held the final closing for its second OECD-focused pooled infrastructure fund, Northleaf Infrastructure Capital Partners II (NICP II), at its $950 million hard cap. Northleaf’s $2.5 billion infrastructure program is focused on direct, long-term investments in OECD countries, providing investors with stable, consistent cash flow from assets that deliver essential services.
“We are delighted that NICP II was oversubscribed, with strong support from both new and existing investors,” said Stuart Waugh, Managing Partner of Northleaf. “Our successful track record and consistent focus on conservatively-positioned small to mid-sized infrastructure assets in developed markets clearly resonates with investors and asset consultants.”
Northleaf’s first pooled infrastructure fund, Northleaf Infrastructure Capital Partners I (NICP I), is fully committed to a portfolio of infrastructure assets well-diversified by geography, investment type and sector. With the successful investment of NICP I, Northleaf launched NICP II in late 2015. George Zakem, Managing Director of Northleaf and co-head of infrastructure, said: “NICP II builds on the success of its predecessor fund, employing the same investment strategy, experienced team and competitive cost structure to generate relative value.”
NICP II has already completed its first two investments: a portfolio of bulk liquid storage assets in the United Kingdom and a portfolio of wind and solar assets in the United States. More recently, NICP II committed to acquire a stake in Northwest Parkway, a highway that forms part of the ring road around Denver, Colorado. “We are excited about several promising opportunities under development for NICP II and have strong momentum in our deal pipeline,” said Jamie Storrow, Managing Director of Northleaf and co-head of infrastructure. “Our established team, operating from Toronto and London, continues to successfully source, execute and manage on-strategy investments, with the goal of delivering attractive yield and long term returns to our investors.”
NICP II’s successful final closing builds on a very strong 2016 across Northleaf’s global private markets program. Northleaf now manages US$9 billion in capital commitments on behalf of more than 70 institutional investors, and the firm’s global investment portfolios include more than 200 active investments in 14 countries. During 2016, Northleaf opened a Chicago office to complement its existing offices in Toronto, London and Menlo Park, and expanded its team to 85 professionals. In November 2016, Northleaf announced the launch of its global private credit strategy, with more than US$1.4 billion in capital raised to date.
About Northleaf Capital Partners
Northleaf Capital Partners is an independent global private markets fund manager with US$9 billion in private equity, infrastructure and private credit commitments under management on behalf of public, corporate and multi-employer pension plans, university endowments, financial institutions and family offices.
Northleaf’s 85-person team, located in Toronto, London, Chicago, and Menlo Park, is focused exclusively on sourcing, evaluating and managing private markets investments globally. Northleaf currently manages six global private equity funds, a specialist global private equity secondary fund, two direct OECD-focused infrastructure funds, a global private credit fund and a series of customized investment mandates tailored to meet the specific needs of institutional investors and family offices. For more information on Northleaf, please visit www.northleafcapital.com.
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Photo courtesy of Northleaf Capital Partners