Recently launched funds
In May 2014, Westbourne Capital has entered an alliance with Japan Alternative Investment Co Ltd (JAI), a Mitsui subsidiary to launch a $300 million infrastructure debt fund exclusively for Japanese institutional investors. Mitsui will assist with the introduction of Japanese institutions and their relationship management while Westbourne will be the exclusive investment adviser and manager.
Vertical Capital Markets Group
In May 2014, Vertical Capital Markets Group has launched an energy fund, Vertical Capital Innovation MLP Energy Fund – a vehicle focused on midstream energy, oil and gas investments through master limited partnerships. Capital Innovations will be the sub-advisor. CIO and Michael Underhill of Capital Innovations and portfolio manager Susan Dambekaln will oversee overall construction and implementation of the MLP Energy Fund portfolio.
In May 2014, a team spearheaded by Geoff Coffey has launched the Infrastructure Partners Investment Fund (IPIF), a Melbourne-based fund of funds which is aiming to raise $200 million. The fund of funds will aim to open up access to infrastructure to new investors. IPIF will build a portfolio of primarily unlisted managers, initially comprising the unlisted Utilities Trust of Australia and Palisade Diversified Investment Fund as well as the listed RARE Value Fund.
Kohlberg Kravis Roberts (KKR)
KKR is raising $2 Billion for its second global infrastructure fund – Global Infrastructure Investors II. The fund will primarily invest in renewable energy, pipelines, utilities and transportation-related assets and is expected to be twice as large as KKR’s previous infrastructure-focused vehicle closed in 2012.
Development Bank of Southern Africa (DBSA)
In March 2014, the Development Bank of Southern Africa (DBSA) and the European Union (EU) have launched a R1.5 billion (€100 million; $139 million) fund to support infrastructure development in Southern Africa. The fund will provide grant funding in support of loans for infrastructure projects in South Africa and neighbouring countries.