A new fund focused on providing “sophisticated investors” and SMSFs access to unlisted infrastructure has been launched.
Chaired by Pacific Hydro director Geoff Coffey, the Infrastructure Partners Investment Fund (IPIF) is described as a “pooled vehicle created to invest in existing unlisted infrastructure funds, with mature, cash generating assets”.
“Up until now, smaller institutional investors, high net worth investors and SMSFs have largely been excluded from access to the unlisted infrastructure market,” Mr Coffey said.
“Unlike property, infrastructure cash yields are less influenced by the economic cycle. Infrastructure delivers stable cash flows and its low correlation to the movements in equity markets and relatively lower risk profile make it a highly appealing proposition,” he added.
According to the IPIF, Australian unlisted infrastructure has provided strong historical performance on an absolute basis, and relative to other asset classes.
“The 10-year average return is 13.9 per cent p.a. with a consistent cash yield of approximately five per cent p.a. This yield has been consistent over the last 15 years and was relatively stable over the GFC,” Mr Coffey said.
He added that the fund aims to raise $200 million and Vasco Investment Managers is the trustee.
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