NEW YORK--()--Industry Funds Management (IFM), an investor-owned global fund manager, announced today that 27 institutional investors in North America made new equity commitments to its Global Infrastructure Fund in 2012, raising approximately $2 billion for the Fund during the year. These new commitments marked IFM’s strongest fundraising year in the region since 2009, raising infrastructure assets under management to $14 billion and total firm assets to more than $40 billion. These new commitments were raised as part of a targeted campaign to secure the capital needed for IFM’s current deal pipeline, including IFM’s 35.5% strategic stake in Manchester Airports Group (MAG) and MAG’s corresponding acquisition of London Stansted Airport for $2.4 billion, announced on January 18, 2013.
“Our disciplined focus remains on investing in outstanding core infrastructure assets that provide strong long-term, risk-adjusted returns for our investors”
Notable corporate and public state pension funds which selected IFM in 2012 for new infrastructure commitments included the California State Teachers’ Retirement System (CalSTRS); Florida State Board of Administration; Massachusetts Mutual Life Insurance; Maine Public Employees Retirement System; NAV CANADA Pension Plan; and, the Virginia Retirement System. CalSTRS’ $500 million allocation represented IFM’s single largest new commitment from North America.
Brett Himbury, Chief Executive of IFM, commented: “We are very pleased to partner with such an impressive group of North American funds. This level of investor confidence supports IFM’s distinct ability to source, access and execute infrastructure deals globally.”
Investing in core infrastructure assets globally since 1995, IFM’s Global Infrastructure Fund opened to the wider international investor community in 2009. It allocates capital to hold core infrastructure investments with a net target portfolio return objective of 10% per annum.
In 2012, IFM’s Global Infrastructure Fund exceeded its return objective, delivering a net return of over 11% to investors.
“Our disciplined focus remains on investing in outstanding core infrastructure assets that provide strong long-term, risk-adjusted returns for our investors,” said IFM’s Alec Montgomery, Head of Infrastructure – North America.
IFM is a global investment manager with clients and teams in three of the largest pension markets in the world. Headquartered in Melbourne, Australia, with offices in Sydney, London and New York, IFM manages over $40 billion across four asset classes - debt, infrastructure, private equity and listed equities. IFM is committed to the United Nations-backed Principles for Responsible Investment and has been a signatory since 2008.