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Laxman Pai, Opalesque Asia: Canadian alternative money manager InstarAGF Asset Management closed its flagship infrastructure fund InstarAGF Essential Infrastructure II at $1.2 billion.
The private capital management firm said its second North America infrastructure investment - InstarAGF Essential Infrastructure Fund II - received capital commitments from new and existing institutional and high net worth investors across Canada, Europe, the US, the Middle East and Asia.
Investors include Texas Municipal Retirement System, Austin. InstarAGF said 80 percent of the capital came from existing investors.
The predecessor InstarAGF Essential Infrastructure Fund I closed in 2017 with C$740m ($537 million) in commitments.
"InstarAGF was formed to capture the distinctive value proposition of the middle market, which is where a majority of the infrastructure investment need exists in North America," said Gregory Smith, president, and CEO of InstarAGF. "We are well-positioned to capitalize on diverse opportunities in our targeted sectors, where macro trends support considerable long-term demand for infrastructure investment and expansion to ensure the provision of high-quality essential services."
Fund II focuses on high-quality civil, utilities, and energy infrastructure assets that exhibit sustainable downside protection, typically as a result of long-term contracts, concession agreements, or a regulatory regime, according to InstarAGF.
The fund invests in critic...................... To view our full article Click here
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