AMP Capital boosts Asia presence after record raise

After raising a record US$6.2 billion for its fourth infrastructure debt strategy, AMP Capital is ramping up its presence in Asia and opening new offices.

AMP Capital head of Asia Pacific Craig Keary said: "We had a total of 86 investors from 14 countries. When you think about us as an Australian firm that is going global it makes you quite proud."

Keary explained the strongest interest was from clients in Korea and Japan.

"Asia was the largest contributor to the fund raise. One of the exciting pieces is that we raised $1.2 billion from Korean investors alone. We now have 38 Korean clients," Keary said.

Approximately 45% of investors in the strategy are based in Asia, around 25% are in North America and the UK and Europe represent about 30%.

"We found that this time there was a stronger demand for it in Asia than in Australia," Keary said.

He said investors in the fund are pension funds, insurance companies and some sovereign wealth funds.

"That's the ultimate, from my perspective, managing money on behalf of a country is a very big responsibility," Keary said.

"We actually have a number of sovereign wealth clients across Asia and government pension plans across Asia and it's something we're really proud of, we're proud to say they're our clients."

Keary confirmed that AMP Capital is expanding its team in Asia as a result of the successful raise, boosting its presence by opening new offices and hiring in Taiwan.

Keary said he had hired someone recently to cover Taiwan for the company and had meetings planned with key insurance and pension clients in Taipei.

"We've also hired some additional people to cover Korea and we are looking to expand in South East Asia. We are very much growing our business," he said.

"We are in the process, applying for the licence, and looking to establish a presence in South East Asia and an office in Singapore."

Keary said: "I lot of other firms think about having an Asia hub. I live in Japan so I'm the hub, there's a separate managing director for Japan. The reason is, we want to hire local people with local connections who understand the market and make sure each country has autonomy to customise to meet the market."

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