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Brookfield, APG, State Grid join Hong Kong’s infra body

The Hong Kong infrastructure platform last month signed MoUs with two Chinese financiers looking to expand their operations in Asia.

The Infrastructure Financing Facilitation Office, a networking platform led by the Hong Kong Monetary Authority, has brought its total number of backers to 63 by recruiting nine additional partners.

The initiative’s new sponsors include investment managers Brookfield Asset Management, Actis and APG Asset Management; Chinese power utilities State Grid Corporation of China and China Hua Neng Group; insurance company AIG; and law firms Pinsent Masons, Clifford Chance and Mayor Brown JSM. 

The IFFO was established last July as part of efforts to facilitate infrastructure funding and financing in Asia. While the platform does not provide direct deal-matching services, it holds industry events, including executive workshops, panel discussions and project presentations, to facilitate information-sharing among its stakeholders. One of the latest workshops includes a session, part of the Asian Financial Forum earlier this week, during which representatives from Bangladesh, Hungary, Iran, Kazakhstan and Turkey presented a series of investment opportunities. 

The platform hopes it will be able to announce the first deals completed through its services in the medium term, IFFO deputy director Vincent Lee told Infrastructure Investor in an interview last November. 

The initiative signed two memorandums of understanding with the China Development Bank and the Export-Import Bank of China last month. 

The partnership with the former will see CBD expand its operations in Hong Kong, with the bank aiming to channel over $10 billion worth of financing and business opportunities via the Hong Kong platform. CBD, the world’s largest development finance institution, has in recent years been using Hong Kong as its main offshore platform for infrastructure investments. 

The EXIM Bank, for its part, will work with IFFO on advancing capacity-building and explore offshore infrastructure investment opportunities, according to the MOU.