Eduard Fernandez
AMOAI, the new entity resulting from Asset Management One’s acquisition of Mizuho Global Alternative Investments, is targeting close to $900m for the new vehicle.
The deal is a debut transaction for the government-backed vehicle’s Strategic Fund and comes amid growing concerns surrounding bad loans in the country’s infrastructure sector.
The troubled firm's large portfolio includes more than 14,000 kilometers of roads, wind energy and solar plants and maritime and logistic assets.
The new vehicle will focus on biomass, healthcare infrastructure, PPPs and waste and water facilities, as Asian renewables ‘heating up’.
The fund manager expects to commit at least $5 billion to assets in the region, its newly appointed head of renewable power in Asia-Pacific says.
The vehicle will be targeting senior debt for greenfield and brownfield projects in investment-grade countries, as well as developing markets through credit enhancement.
CIO Jang Dong-hun is concerned these investments might prove harder to exit, expresses a preference for publicly regulated assets and recalls a bad experience with crematoriums in Korea.
Damian Sence, a former managing director of MIRA, will be focusing on origination and investment and asset management in the firm
CIO tells Infrastructure Investor it wants to grow its exposure to the asset class from 5% to 10% of its AUM within five years.
The UK asset manager plans more “bespoke renewables portfolios” in partnership with institutional investors across the globe.