The company said the fundraise was achieved despite ‘challenging political and economic’ circumstances.
Stepstone-managed vehicle is looking to raise capital from up to 32 London-based pension funds for its UK-focused fund.
Nearly 150 LPs have committed to GIP IV, which will follow the same strategy as its predecessors and target 15%-20% gross returns.
The Toronto-based firm was part of a consortium that brought a $500m US airport PPP to financial close last week.
A group of Nordic investors has helped the Danish fund manager reach a $700m first close on New Markets Fund I, CIP’s first emerging markets-focused vehicle.
Global head of infra debt Andrew Jones walks us through the deployment of AMP Capital’s $2.5bn third junior debt fund, now fully invested.
The Austrian group is also teaming up with Meridiam to try to win a €300m local broadband tender against Macquarie and Allianz.
While the German firm has invested in renewables through private funds, it’s seeking to attract a ‘new and additional investor audience’ through its new listed vehicle.
With a first close equalling its predecessor’s final close, the manager's fourth flagship infrastructure fund is ‘on pace’ to be its largest infra vehicle.
Vehicle will provide opportunities for low-ticket-size investors to access infrastructure debt through co-investments.
Firm has so far raised around $250m from European LPs as it seeks to generate returns of about 12%.
Vehicle’s managers to make direct, primary and secondary investments in western Europe and North America, targeting returns of 6%-8%.
European secondaries specialist Ardian will act as anchor investor and offer current partners the opportunity to become LPs alongside it, a source said.
With nearly $20bn raised in Q1, expect 2019 to be another record-breaking year for infrastructure fundraising.
Backed by Chubu Electric, Toyota, Mizuho Bank and Sumitomo Mitsui Banking Corporation, the new fund exceeded its original ¥30bn target and has already invested in a solar project in Japan.