AMP Capital, a unit of Australian fund manager AMP, has raised 241 million euro ($340.9 million) for its infrastructure debt fund, Reuters reported. The fund has secured commitments from 12 institutional investors, including China Life Insurance Co., Reuters said. The company’s first investment is in a UK-based train leasing firm, and the fund will focus its investments on essential services such as water, gas, electricity, transport and hospitals.
(Reuters) – AMP Capital, a unit of Australian fund manager AMP has raised an initial 241 million euros ($340.9 million) for its infrastructure debt fund and made its first investment in a UK based train leasing firm.
The fund secured commitments from 12 institutional investors including China Life Insurance Co , AMP Capital, which overseas $98 billion, said in a statement on Tuesday.
“The portfolio will consist of investments in the subordinated debt of 10 to 15 companies headquartered in OECD countries in the essential services of water, gas, electricity, transport and hospitals,” it said.
The fund will target defensive assets with high barriers to entry, a regulated environment, highly visible cash flows and strong industry position,
AMP Capital is expanding its overseas focus and tapping into the saving habits of Asian customers to reduce its reliance on Australia for capital inflows.
It tied up with China Life in 2009 to explore areas for partnership in pensions and asset management.
($1 = 0.707 Euros) (Reporting by Narayanan Somasundaram; Editing by Balazs Koranyi)