Global Infrastructure Partners (GIP) II, the second offering from Global Infrastructure Partners (GIP), held its second close today, hauling in $5.5 billion in equity commitments. The infrastructure fund manager revealed the closing in a regulatory filing. A GIP spokesman in New York declined to comment.
In December, GIP held its first close on GIP II, netting just over $3 billion. In April, the fund made its maiden investment, purchasing Edinburgh Airport, a prized UK asset that spurred a bidding war between GIP and JPMorgan Asset Management (JPMAM). The fund paid £807 million (€990 million; $1.3 billion) for Edinburgh, netting the fund manager its third UK airport.
Infrastructure Investor exclusively reported in November 2011 that GIP II had raised over $2 billion. Unlike its debut fund, GIP relied on in-house fundraising for its second vehicle, rather than using Credit Suisse Group as a placement agent. A prior Infrastructure Investor exclusive also noted that GIP had been in discussions with larger limited partners in regard to its second fund.
The company yesterday announced that James Jenkins had joined GIP as managing director of investor relations. Jenkins, a well-connected Wall Street veteran, has a directive to help shop GIP II to larger LPs, the company said.
GIP closed its first fund in May 2008 on $5.64 billion, having originally targeted between $4.5 billion and $5 billion.