AMP Capital has launched a new infrastructure debt strategy, set to help investors capitalise on emerging growth opportunities in the Asia Pacific region.
The Infrastructure Debt Asia Pacific strategy will target infrastructure mezzanine debt opportunities in both developed and developing countries in the region, across the energy, transportation, utilities, and digital infrastructure sectors.
AMP Capital also announced a new dedicated team based in Singapore and Sydney - led by partner and head of infrastructure debt Asia Simon La Greca - would leverage their experience and relationships built over the last two decades at AMP Capital to manage the strategy.
AMP Capital has appointed Justin McRae as an associate director and Rob Fogarty as a fund controller, both internal hires, to work on the infrastructure debt Asia strategy in the investment manager's Sydney office.
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Singapore-based Justin Chan-Sew has also been appointed as a principal to work on the strategy, having previously worked as a senior vice president at GE Capital for three years. Prior to his time with GE Capital, Chan-Sew worked with BNP Paribas as a director of energy and infrastructure and investment banking.
AMP Capital global head of infrastructure debt Patrick Trears said he was delighted to announce the launch of the product to the firm's global infrastructure debt portfolio.
"The new capability to be headed up by an experienced partner in our business, Simon La Greca, reflects both the growing interest in the asset class by investors across the world who continue to seek out stable, yield-focused opportunities in increasingly volatile market conditions, and the tremendous growth in infrastructure investment across Asia," he said.
La Greca, who has worked with AMP Capital for more than 17 years, said the strategy would provide mezzanine debt to both infrastructure construction projects and established businesses.
"The strategy will capitalise on our strong global relationships with infrastructure equity sponsors who are also increasingly active in the region," he said.
"We recognise there is currently a funding gap for infrastructure projects in Asia, and that's why we are making the region a key strategic priority.
"AMP Capital already has a strong track record in infrastructure debt across North America and Europe - the Asia strategy will form the third pillar of our global infrastructure debt business."
AMP Capital has already completed a $120 million mezzanine debt investment with Stonepeak Infrastructure Partners in Asia Pacific. This investment helped support the acquisition of one of Taiwan's leading offshore wind farm developers, Swancor Renewable Energy, it said, as well as a new 376-megawatt offshore wind farm.
Since 2001, AMP Capital's infrastructure debt team has investment more than $12.3 billion (US$8.8 billion) in 80 assets globally.