Global Infrastructure Partners closes Australia fund at $4b
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The news: Infrastructure investor Global Infrastructure Partners (GIP) has closed its GIP Australia Fund II, with $4 billion in aggregate committed capital.
The numbers: GIP said the fund received commitments from institutional investors from across Australia, Asia, Europe and North America, and closed at the upper-end of its $3 billion to $4 billion target.
New York-based GIP holds approximately USD112 billion ($169.11 billion) in assets under management, with coverage in the energy, transport, digital infrastructure and water and waste management sectors.
The company has Australian offices in Brisbane, Melbourne and Sydney.
The context: GIP said that the majority of commitments to its latest fund are, by value, from Australian institutions. The fund will target investment opportunities in areas that are "underpinned by favourable demographic, economic, and regulatory conditions coupled with a rapidly growing demand for private infrastructure investments".
GIP, which currently manages investments in nine infrastructure assets in Australia, noted the region "represents one of the most active infrastructure markets globally" with a high proportion of large-scale transactions.
What they said: GIP chair and CEO Bayo Ogunlesi said: “GIP has deep experience in, and a strong track record of, investing across Australia".
“Australia has always been an important market for GIP and our Australia fund platforms are an important and natural extension of our global reach," they said.
"We are excited by this successful fundraise, as we believe our team’s expertise and in-depth sector knowledge, combined with their ability to leverage GIP’s best-in-class infrastructure investing capabilities, will allow us to deliver on our investment objectives.”
The source: Global Infrastructure Partners media release
