Northleaf Capital Partners has announced that it has held the final closing for its second OECD-focused pooled infrastructure fund, Northleaf Infrastructure Capital Partners II (NICP II), at its US$950 million hard cap.
NICP II, which was launched in 2015, will focus on direct investments in small to mid-sized infrastructure assets in developed markets. It has already completed its first two investments: a portfolio of bulk liquid storage assets in the United Kingdom and a portfolio of wind and solar assets in the United States. More recently, NICP II committed to acquire a stake in Northwest Parkway, a highway that forms part of the ring road around Denver, Colorado.
Northleaf’s US$2.5 billion infrastructure program is focused on direct, long-term investments in OECD countries, providing investors with stable, consistent cash flow from assets that deliver essential services.
Northleaf now manages US$9 billion in capital commitments on behalf of more than 70 institutional investors, and the firm’s global investment portfolios include more than 200 active investments in 14 countries.
Stuart Waugh, Managing Partner of Northleaf, said:
“We are delighted that NICP II was oversubscribed, with strong support from both new and existing investors. Our successful track record and consistent focus on conservatively-positioned small to mid-sized infrastructure assets in developed markets clearly resonates with investors and asset consultants.”