AMP Capital reaches final close on the AMP Capital Infrastructure Debt Fund III

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
AMP Capital reaches final close on the AMP Capital Infrastructure Debt Fund III

AMP Capital has reached final close on the AMP Capital Infrastructure Debt Fund III (IDF III), raising US$2.5 billion for the mezzanine debt strategy, an additional US$800 million in co-investment rights and securing a further US$800 million from investors who want access to its deal capabilities.

IDF III, the third infrastructure debt fund launched by AMP Capital in six years, had a target of US$2 billion.

The fundraise is believed to be one of the largest in the world for an infrastructure debt strategy.

More than 125 investors from 12 countries have invested in IDF III, with strong interest from institutional investors in Japan, Korea, Canada and Germany.

The fundraise was also strongly supported by UK local government pension schemes (LGPS), with four LPGS investors, including Northamptonshire, East Riding and Cambridgeshire, committing more than US$100 million to IDF III.

IDF III has an investment period of four years. AMP Capital’s first infrastructure debt fund (IDF I) was closed to new investment in 2012 after raising US$500 million globally. Its second fund, IDF II, raised US$1.1 billion, with US$250 million in additional coinvestment pledges.

AMP Capital Global Head of Infrastructure Debt Andrew Jones said:

“I’m thrilled at the level of confidence in the infrastructure debt asset class and our team as evidenced by our successful fundraise for Infrastructure Debt Fund III.

We have exceeded our expectations, attracting interest beyond the fund’s hard cap of US$2.5 billion and securing an additional US$1.6 billion in co-investment and other commitments for infrastructure debt deals brokered by AMP Capital. These commitments will be called on after the fund makes its allocation to each investment.

We had success in new markets such as Korea, where we raised more than US$300m, and Canada where some of the country’s large pension plans invested in our strategy for the first time. Japanese investors, early adopters of infrastructure debt as an investment strategy, were also strong supporters of the fund.

Infrastructure mezzanine debt appeals to investors looking for an attractive yield with capital stability and it is growing in prominence among pension plans and insurance companies in particular.”

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.