QIC’s infrastructure fund first close after raising $1b

QIC had its first close for its QIC Global Infrastructure Fund (QGIF) at 50 per cent of target after raising more than $1 billion of new capital for its Global Infrastructure Platform.

QGIF has secured commitments from a range of institutional investors including Hostplus, an Asian sovereign wealth fund, one of China's leading insurers and two foundation QIC clients. An additional commitment has also been made under a co-investment arrangement.

QIC global infrastructure's head, Ross Israel said the first close is a result of their focused marketing efforts and a strong potential investment pipeline.

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QGIF will offer investors access to a large investable universe of attractive infrastructure assets in developed OECD economies with a focus towards Australia. The fund is targeting $1.75 billion of total capital commitments.

The fund was formally launched earlier this year.

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