QIC today announced the final close of the QIC Global Infrastructure Fund (QGIF), which achieved a total of A$2.35 billion of capital commitments over an 18-month period. The A$2.35 billion represents the hard-cap for the fund-raise and also exceeds the Fund’s target of A$1.75 billion.
QGIF is a pooled unlisted investment vehicle that seeks to provide institutional investors with access to attractive, risk-adjusted returns through long-term exposure to a diversified portfolio of global infrastructure assets.
The investors benefit immediately from the Fund’s interests in three attractive infrastructure assets. The assets, secured since the investment period commenced in August 2015, are Lochard Energy (which owns and operates the Iona Gas Plant), the Powering Australian Renewables Fund (PARF, a joint investment with AGL and Future Fund) and the Port of Melbourne.
QIC’s CEO Damien Frawley said: “QGIF’s successful fund-raise underscores strong institutional investor support for alternative investments as well as QIC’s strategic focus on diversified alternatives.”
QGIF grew out of QIC’s strategy and gives investors access to QIC’s Global Infrastructure investment capabilities, focused on its sector-centric, active-core approach. It has received strong support from Australasian investors (including from China, Japan and Korea), along with investors from the United States and Europe.
Ross Israel, Head of QIC Global Infrastructure, said: “I’m delighted to announce the final close of QGIF, following a successful first close in August 2015. It endorses our ability to secure through focused origination and execution processes high quality infrastructure assets and builds a strong investment pipeline for our investors.”
“We are very pleased these investors have also supported QGIF’s innovative fund structure and the platform it presents for co-investment. We believe it is a further step in the continuing evolution of institutional infrastructure fund structures,” he said.
QGIF is managed by the same QIC team executing the investment strategy that has delivered a strong track record over the past decade across three core sectors – Transport, Energy & Utilities and Public Private Partnerships.
About QIC:
QIC is a global diversified alternative investment firm offering infrastructure, real estate, private equity, liquid strategies and multi-asset investments. It is one of the largest institutional investment managers in Australia, with A$79.5 billion (US$57.6/£46.6 billion)1 in funds under management, offering infrastructure, real estate, private equity, liquid strategies and multi-asset investment services. QIC has over 500 employees and serves more than 100 clients including governments, pension plans, sovereign wealth funds and insurers, spanning Australia, Europe, Asia, Middle East and the US. Headquartered in Brisbane, Australia, QIC also has offices in New York, San Francisco, Los Angeles, London, Sydney, and Melbourne. For more information, please visit: www.qic.com.
About QIC Global Infrastructure:
QIC is a long-term infrastructure investor with an established global platform. We currently manage A$9.5 billion (US$6.9 billion/£5.6 billion)2 across 12 global direct investments, having realised a further A$7.0 billion (US$5.0 billion/£4.1 billion)3 of investments for our clients. Our sector centric investment strategy deconstructs risk across sector value chains identifying relative value for investment. This drives a targeted origination approach which has seen us build diversified portfolios for our clients, protecting their capital while delivering strong total returns since 2006.
About QGIF:
QGIF is an unlisted investment vehicle that seeks to provide institutional investors with access to attractive, risk-adjusted returns through long-term exposure to a diversified portfolio of global infrastructure assets. The Fund has secured commitments from a range of institutional investors including Hostplus, one of Australia’s largest superannuation funds, an Asian sovereign wealth fund and one of China’s leading insurers.
