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The New York-based firm collected commitments from 240 global LPs, a strong sign that 'investors like the asset class, like the opportunity set,' GIP’s chairman said.
The firm has already made its first investment, acquiring a 44% stake in Germany’s A8 motorway from InfraVia and Egis.
After 10 years at the helm of the energy transition-focused firm he founded, Tobias Reichmuth will continue to provide strategic direction as chairman of the board.
Resilience, resilient infrastructure
The move comes less than two weeks after the French fund manager announced its switch to a Benefit Corporation.
Tokyo skyline, Japan
The debut infra vehicle is aiming to purchase two Australian transportation PPPs from the Japanese trading house by November.
The New York-based firm has also brought back its former head of investor relations, Brenden Woods, who left last December to join Macquarie Infrastructure & Real Assets.
The fund manager will look to attract institutional capital to invest in the new company, while its management team will hold a ‘significant minority stake,’ a source said.
Nearly 150 LPs have committed to GIP IV, which will follow the same strategy as its predecessors and target 15%-20% gross returns.
The fund, currently sitting at around €6bn, lacks an official hard-cap, but has received market demand for as much as €12bn.
The placement agent and advisory firm is among the first to announce a new office opening as part of its Brexit contingency plans.
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