The Australian SWF has lowered its expected return range by 0.5% for the next 10 years, as it says investors have been ‘squeezed up the risk curve’.
.jpg "China Everbright in $300m first close for overseas fund")
The Chinese asset manager is eyeing a second close on its $1bn vehicle by the end of this year.
The German asset manager has completed and exited two solar projects in Japan over the past four years.
The World Bank affiliate is looking to lend $50m to the project and mobilise up to $100 million from other lenders.
The agency said the Swiss firm ‘improperly allocated’ almost $1.3m of expenses to the vehicle it managed until 2014.
MIP IV is close to meeting its $3.5bn target, as it seeks net returns of between 10% and 12%.
The fund has bought the 5MW Vulcan Renewables facility – the first commercial biogas project to be connected to the National Grid when it was launched in 2013.
Being invested in a private equity fund, even if it produces below-benchmark returns, can be more attractive than having cash lying fallow, according to a survey by Palico.
The move comes days after proposals to allow the fund to invest up to 15% of its gross asset value in OECD countries outside the UK were approved at its AGM.
The vehicle is already backing Tesla’s 100MW grid-scale battery project, as part of the state’s $437m energy plan.
The $428bn fund is interested in clubbing together with other institutional investors to invest in infrastructure projects across the Belt and Road countries.
The asset class has generated a net return of 9.9% over the last year, with GIP II its top performing fund, returning a net 15.88%.
An initial 30 sites have been acquired by the new platform, with further deals slated for later in the year.
The firm’s second fund has become a shareholder in the project majority-owned by GIP’s Competitive Power Ventures.
.jpg?id=12885346550 "Partners Group agrees US utility services deal")
The company operates across the electricity, gas, water sewage and telecoms sectors in the US and Canada.