The reshuffle at the top of the private markets team comes after the firm warned of lofty valuations in core infrastructure.
Ever since Oaktree’s Howard Marks sounded the alarm on subscription line financing, criticism has rained down on an established product. We spoke to a number of GPs to separate fact from improbability.
Sang-Hyun Yoo, who resigned from the pension in February, has been replaced by the former alternatives head of Meritz Asset Management.
The fund has also agreed deals for a further 17MW, bringing its total portfolio to over 500MW of capacity.
How the use of a subscription credit facility can change the return profile of a fund in good times and in bad.
The industry reacts as the UK election produces no outright majority for any party, generating uncertainty for Prime Minister May and the country’s infrastructure pipeline.
The investment was made by Gravis Capital Partners’ Asset Backed Income Fund, following a recent share issue.
Three South Korean institutions will invest $150m in the vehicle through a platform run by a local asset management company.
The fresh equity issue builds on the fund’s first open offer in four years held in March as it seeks to finance its investment pipeline.
The Investec-managed Emerging Africa Infrastructure Fund is helping finance the $76m project with a capacity of 40MW, which will provide 4.8% of the country’s current generation capacity.
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The bid comes as the US buyout firm is looking to launch its third infrastructure vehicle with a $5bn target this year.
The US public pension committed $200 million to infrastructure.
The fund has boosted its presence in the wind sector to become one of the largest operators in the country, although its attempt to buy Alerion Clean Power continues to be delayed.
The Swiss wealth manager is looking to raise more money for its climate bond vehicle, which has collected $240m from private investors so far.
OTPP has been under-allocated for most of the 15 years it has been investing in infrastructure – until now. Infrastructure chief Andrew Claerhout tells us how the pension got creative, opened itself up to new sectors and geographies, and acquired the skills to become a serious developer of greenfield assets.