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infrastructure debt

In a year like no other, infrastructure debt proved its resilience, and low-for-long interest rates are driving further interest, writes Sakshi Sharma.
Ares and AMP Ltd will form a new joint venture covering AMP Capital’s private markets businesses, including infra and real estate, with Ares assuming management control.
Private debt should have a major role to play in all sizes and types of project finance, according to David Rose of the Project Finance Exchange.
The mandate is the first infrastructure debt allocation made by two Dutch pension funds.
The fund manager has appointed Andrew Jones, formerly of AMP Capital, to head up the new strategy from its Sydney office.
Infrastructure debt has seen growing demand from investors in recent years and its defensive characteristics make it perfect for weathering a downturn.
Emerging and diverse managers received less than 3% of capital commitments closed in H1, raising fears they are being left behind as the pandemic changes fundraising.
The manager was originally targeting $1.75bn for its second mezzanine fund, expected to reach a final close as early as end of October.
MIDIS’s sub-investment grade infra debt fund is already roughly 60% invested in 14 borrowers in the US, UK and continental Europe with an average internal rating of BB-.
The first transaction comes in the form of a A$130m senior syndicated loan facility, with capital funded via a separate account.
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