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Japan wind farm
Tony Togher, who will lead the strategy, said the new platform’s focus on sustainable debt was partly in response to strong client demand.
MIRA is set to take over 100% of the waste management and recycling firm, with CPE Capital no longer in the running.
Despite fundraising coinciding with the increased uncertainty brought on by the pandemic, Argo’s third fund attracted new investors, as well as larger allocations from prior investors.
A CEO for the new unit is being sought, as parent AMP Ltd says the demerger and ASX listing would ‘unlock further value’ in AMP Capital’s infra and real estate businesses.
The manager now has a 19-strong team in the region, with the new vehicle looking to invest in telecoms, transportation, logistics and energy transition.
The decision from majority-owner Sun Life will see InfraRed’s European real estate platform sold, while its Asia platform will be merged with Sun Life’s main private real estate business.
The $2.1bn deal will see the partners acquire an 836MW operational wind portfolio and a 5GW development pipeline across multiple technologies.
Final commitments to the firm’s latest energy fund will put the fundraising total above a $4bn target and at or near its hard-cap.
The fund will focus on projects in Japan, South Korea and Taiwan to capitalise on feed-in tariffs and the countries’ decarbonisation targets.
Aware Super, Cbus and Hesta say dealflow is high after a covid-induced lull in 2020, with all having ambitions to further diversify their portfolios.
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