We explain how we put together the II 30
The Australian investor is still on top by a wide margin, but independent funds have decisively beaten bank-affiliated concerns in the fundraising stakes. Fundraising conditions have also toughened, with the 30 largest investors raising less money over the last five years.
The Melbourne-based fund manager has raised an extra A$400m since last May. Westbourne, which has already invested some A$800m of the fund, expects to reach A$2bn in capital commitments by the end of the year.
Carl Icahn voiced his aim to further explore a potential sale of Chesapeake Midstream, a Chesapeake Energy unit part-owned by Global Infrastructure Partners. The fund manager helped launch the company in 2009.
The BT Pension Scheme, the UK’s largest pension fund, has become the utility's second-largest shareholder after picking up the stake from two Macquarie funds in a deal arranged by Hermes GPE. Macquarie is still Thames Water’s largest stakeholder with 26% of the utility.
Macquarie Infrastructure and Real Assets will also invest $50m in the fund alongside Manila’s largest state-backed pension fund, which is providing a cornerstone investment of $300m. Two other undisclosed foreign investors are also anchoring the fund.
Aviva Life & Pensions UK, the EIB and the Development Bank of Japan have backed the debt fund’s first close. The Aviva/Hadrian’s Wall Capital vehicle is targeting £/€1bn to invest in low-risk infrastructure across the UK and Europe.
Fiera Axium Infrastructure has joined forces with wind farm developer Eolectric to launch a fund targeting wind farms across Canada. The fund’s first project is a C$340m wind farm in Quebec.
The Spanish company, together with Aveng, will build, own and operate a 135MW wind farm as well as a 74MW photovoltaic solar plant in South Africa.
James Jenkins, who has worked for Lehman Brothers and Credit Suisse, has joined Global Infrastructure Partners as a managing director in charge of investor relations. He will help shore up GIP’s second infrastructure fund.