Infrastructure manager IFM Investors has announced that it has raised $2.15 billion from 29 investors in Europe and the Middle East in infrastructure equity and debt mandates in the period from July 2016 to the end of September 2017.
IFM raised another $3 billion globally in the same period, as part of the increased institutional demand around the world for infrastructure assets. IFM said that it had received funds from 20 new investors in seven European countries and from nine existing investors, and that 80% of capital was from pension funds, including $62.5 million from Barnet Council Pension Fund.
IFM Investors executive director, Annabel Wiscarson, commented: “Institutional investors recognise the increasing appeal of infrastructure equity and debt as potential sources of uncorrelated returns to other asset classes that can effectively match long-term liabilities. Regulation such as Solvency II is also having an effect, making infrastructure a more attractive investment proposition for insurers.”
IFM Investors was set up 22 years ago by a group of not-for-profit pension funds who wanted to create an investor-owned fund managers. IFM investors now represent 15 million pension fund members globally, with $37 billion in infrastructure equity and debt assets.