AMP’s CIF wins two mandates

The proceeds will be used to acquire additional assets for the social infrastructure fund, which is now invested in assets worth around $1.2bn.

AMP Capital has won commitments from Local Government Super (LGS) and Maritime Super to invest in the Community Infrastructure Fund (CIF), the Australian firm’s vehicle focused on social infrastructure.

The cash provided by both superannuation funds will be used to acquire additional assets for CIF, helping it build on the $1.2 billion worth of projects – combining both equity and debt – the vehicle is currently invested in.

These would follow the three deals completed by CIF last year, which had an enterprise value of $525 million. They included the Partnerships in Victoria Schools Project, water asset AquaTower and the South East Queensland Schools Public-Private Partnership.

New South Wales' LGS oversees A$7 billion (€4.7 billion; $6.5 billion) of assets while Melbourne-based Maritime Super has A$3.32 billion under management. Maritime Super, the result of a merger between the Stevedoring Employees Retirement Fund (SERF) and the Seafarers Retirement Fund (SRF), invests in infrastructure via third party funds solely focused on Australia. 

“Our clients are searching for investments that offer stable, long-term and diversified income streams from low-risk projects,” commented Julie-Anne Mizzi, social infrastructure investment director at AMP, in a statement.

CIF received $100 million in new mandates from institutional clients last year.