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November 2018
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AMP Capital appointed to manage new 1 Euro billion Irish Infrastructure Fund

  • Fund will seek to invest in infrastructure assets in Ireland – including assets being disposed of by the Government and commercial State enterprises and new investment projects
  • National Pensions Reserve Fund has committed a 250 Euro million as cornerstone investor
  • AMP Capital has been appointed as the investment manager of a major new infrastructure fund being established by Irish Life Investment Managers (ILIM). The new fund – Irish Infrastructure Trust – will target investment in Irish assets including those designated for disposal by the Irish Government and Irish commercial State enterprises and also in new infrastructure projects in Ireland. It will seek up to 1 Euro billion from global and Irish institutional investors and has already received investment commitments of 300 Euro million from institutional funds including Euro 250 million from the National Pensions Reserve Fund (NPRF).

    AMP Capital will invest and manage the portfolio of infrastructure assets with full responsibility for all investment decisions.

    AMP Capital Head of Infrastructure Europe Boe Pahari said: We are very pleased to be appointed as infrastructure manager for this Irish infrastructure fund which will provide institutional investors globally with a unique opportunity to invest in the Irish infrastructure sector.

    We have over 20 years experience in owning and managing infrastructure assets and are well positioned to effectively manage and add value to the fund’s investments. With the first close of the fund we are progressing an active deal pipeline consistent with our strategy of investing in quality Irish infrastructure assets across a range of sectors.

    Irish Life Investment Managers Chief Executive Gerry Keenan said: -We expect considerable investment opportunities to emerge in the coming years with infrastructure assets which have traditionally been closed off from outside investment. This fund aims to provide long term investors with a stable income yield as well as the potential for capital growth from a substantial portfolio of assets which underpin the Irish economy.

    National Pensions Reserve Fund Chairman Paul Carty said: -This commitment by the NPRF is a significant building block in the establishment of a Strategic Investment Portfolio that is focused on investments in Ireland. It has the added benefit of allowing the NPRF to fulfil its goal of investing on commercial terms and alongside other investors in Irish infrastructure.

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