Fengate Asset Management has raised $1.1 billion in committed capital in the final close of its third core infrastructure fund. Fengate Core Infrastructure Fund III exceeded both its C$750 million target and initial C$1 billion hard cap. It was backed by new and existing limited partners, including public and corporate pension plans, insurance companies and funds of funds, based in North America, Europe and Japan. Threadmark Partners was the placement agent. Fund III, already about 50 percent deployed or committed to seven North American assets, will maintain Fengate’s strategy of investing in mid-sized infrastructure assets emphasizing greenfield projects. Based in Toronto, Fengate invests in infrastructure, private equity and real estate.
TORONTO, May 15, 2019 /CNW/ – Fengate Asset Management (Fengate) today announced that it has closed total capital commitments of $1.1 billion for Fengate Core Infrastructure Fund III and affiliated vehicles (Fund III), exceeding both its $750 million target and initial $1 billion hard cap. Fund investors include public and corporate pension plans, insurance companies and fund of funds across Europe, Japan and North America.
“We are proud of the strong support we have received for Fund III from both our existing and new investors,” said George Theodoropoulos, Managing Partner, Fengate. “Our investments in the North American core infrastructure market continue to provide strong and stable returns, and we will maintain our disciplined approach in identifying further opportunities for the Fund that complement our seeded asset portfolio and exemplify our investment strategy.”
Fund III continues Fengate’s successful strategy of investing in mid-sized infrastructure assets emphasizing greenfield projects originated through its exclusive development pipeline and long-standing relationships with contractors, developers and government procurement agencies. Fund III also selectively pursues brownfield acquisitions where it can achieve its target returns.
Fund III is already approximately 50% invested in and/ or committed to seven assets across North America.
Threadmark Partners Limited served as the Fund’s global placement agent.
Fengate is a leading independent alternative investment manager focused on infrastructure, private equity and real estate strategies. With offices in Toronto, Houston, Vancouver, New York and Oakville, Fengate is one of the most active real asset investors in North America. Fengate leverages more than 45 years of experience to invest in long-life and high-quality assets and businesses on behalf of our clients. Learn more at fengate.com.
Threadmark is an independent global placement agent. Threadmark’s experienced team has helped its clients raise over $20 billion for a broad range of credit, infrastructure, private equity and real estate strategies, delivering successful fundraises for established and first time funds across multiple sectors, geographies and strategies. With a strong focus on value-add services, Threadmark also acts as an advisor to its clients, providing strategic advice before, during and after a fund raise. Further details can be found on Threadmark’s website, threadmark.com.