AMP Capital’s $6.2 billion Community Infrastructure Fund has won a new investor, boosting its funding sources ahead of its move, together with other AMP-run vehicles, onto the Dexus-managed investment platform later this year.
The fresh capital – the amount has not been disclosed – into the CommIF vehicle comes from fund manager Invest Unlisted, led by infrastructure veteran Jonathan van Rooyen. The investment house has a separate allocation to the AMP Capital Diversified Infrastructure Trust.Dexus is set to take overThe value of those managed assets is yet to be finalised and will depend on how many of the funds and individual mandates on the AMP Capital platform opt to stick with their new manager.
The commitment from Invest Unlisted funds adds a dose of confidence to Dexus’ ability to manage and retain the infrastructure funds in the lead-up to the handover. “The new investment is a strong endorsement of the CommIF team and the proposed AMP Capital-Dexus transaction,” an AMP Capital spokeswoman said.“At Dexus, the CommIF strategy will remain unchanged and will continue to pursue predominantly availability-based, brownfield social infrastructure, public-private partnership concession-style investments and seek to maintain the stable, low-risk annuity-style income with high yield that delivers material benefits to the community on a daily basis.
The CommIF fund has previously figured as a target for rival fund managers. Proposals to take over its management were prosecuted last year by Morrison