Toronto: InstarAGF Asset Management Inc. and AGF Management Limited announced the final closing June 27 of the InstarAGF Essential Infrastructure Fund, with $740 million in aggregate equity commitments from institutional and high net worth investors from Canada, Europe, the United Kingdom and United States.
Approximately 30% of the capital raised by the Fund has already been committed to three investments: an interest in the passenger terminal at Billy Bishop Toronto City Airport, a vital transportation hub for the city of Toronto and surrounding region; a 30-megawatt wind power facility in British Columbia’s Okanagan region; and an interest in Steel Reef Infrastructure Corp., a Canadian midstream energy services company that operates in top-quartile basins in Western Canada.
The Fund focuses on energy, utilities, civil and social infrastructure assets that “exhibit sustainable downside protection, typically as a result of long-term contracts, concession agreements or a regulatory regime, and where InstarAGF’s expertise and ability to add value to the asset creates the potential for capital appreciation.”
Launched in 2014, InstarAGF is an independent alternative asset management firm with an emphasis on North American middle-market opportunities in the infrastructure sector and other alternative real asset categories. AGF Management Limited, founded in 1957, is a diversified global asset management firm with retail, institutional, alternative and “high-net-worth businesses.”