Eduard Fernandez
The commitments from the Canadian pension and Australian superannuation fund bring NIIF’s Master Fund to its third close on more than $1.8bn.
Most of the EIAs local firms have launched are located in the selected areas, a source said.
The acquisition of a 95% stake in the renewables division of chemical manufacturer Swancor, includes a stake in the 376MW Formosa II project.
Sources warn of diminishing support from export credit agencies as the country steps ups its localisation requirements.
The world’s largest pension fund has increased its commitments to fund-of-funds mandates from ¥50bn to ¥148bn in one year.
The assets, valued at $3.6bn, will be acquired through an infrastructure investment trust set up by owner Reliance Industries.
The credit portfolio, which is targeting total returns of 5-7 percent, aims to boost awareness of environmental, social and governance issues in emerging Asian markets.
China is trailing behind its neighbour in infrastructure projects across the region by $66 billion, notwithstanding Beijing's Belt and Road Initiative.
The consortium is led by Hokkaido Airport Terminal, which owns the current operator of the island’s busiest airport, New Chitose.
The fund manager will look to attract institutional capital to invest in the new company, while its management team will hold a ‘significant minority stake,’ a source said.