Chris Witkowsky
Infrastructure/real asset deals accounted for about 6% of the $84bn of GP-led volume last year, according to a Greenhill report.
Inventory on the GP-led side of the business is high, though the completion rate for such deals hovers around 50 percent.
The sale is being run in steps, with the first round of about $500m recently closed and pricing coming in at more than 90% of NAV.
The move is the latest in the two-way flow of talent to and from the government and the private equity world.
GI Data Infrastructure Fund targets investments in data centres, telecommunication towers and fibre wiring.
Matt Nelson, ArcLight Capital Partners' long-time head of investor relations, is part of the French manager's expansion into North America.
The firm invested in DR Fortress LLC – a data centre operator in Hawaii – in partnership with the company's management in January.
In November, Washington State Investment Board committed $175m to the fund, with an additional $75m of co-investment capital.