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.
The Canada Pension Plan Investment Board is now the biggest pension fund in Canada with C$161bn. Its infrastructure investment paid off handsomely, returning 12.8%.
RREEF has lined up the capital for its second infrastructure fund – which so far has held a first close on some €620m – but these commitments will only trickle through once the sale of Deutsche Bank’s global alternative asset management business is concluded.
The Australian fund manager has won the approval of the South Australian government to acquire a collection of schools under the South Australian Schools public-private partnership project.
The 3i Group will aim to diversify by adding to its infrastructure and debt management business after releasing a management statement showing another turbulent year.
The fund has sold its 50% stake in the port to Palisade Investment Partners, after having netted an average return of 24% per year since it bought into the asset in 2000 for $17m.