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.
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.
With sticky inflation plaguing Australian and global markets, super funds have seen their first negative monthly return since October 2023.
There were 25 winners at the first-ever Australian Wealth Management Awards, held in Sydney last night.
Over 90 finalists have been chosen to compete at the 36th annual Fund Manager of the Year Awards.
The asset manager is bolstering its investments in the global energy transition and climate opportunities.
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