Exclusives

The Singapore fund manager has rejected a pre-emptive $4.2bn offer for the portfolio which spans the Asia-Pacific region.

The milestone for Fund IV, which targets a gross IRR of 11%, comes after the manager teamed up with HICL and NPS to buy the concession for the UK’s HS1 rail link.

A Danish infrastructure fund and a Saudi contractor have expressed interest in UK offshore transmission projects, which are also being eyed by institutional debt providers.

The existing LP will buy the fund from the Dutch manager, helping it return a net IRR of more than 10% to investors.

New all-senior debt package replaces costly €300m mezzanine facility.

Almost triple the size of its predecessor, the vehicle will look to invest across OECD markets and seek net returns of between 9% and 10%.

The UK-based firm garnered commitments from 47 investors, raising 50% more than for the vehicle’s predecessor in about three months.

Launched a couple of months ago, the firm’s second global infrastructure vehicle has received $150m from the Texas Municipal Retirement System.

The asset manager is set to launch a successor after making a 32-year bond investment in the UK’s M6 toll, which IFM acquired on Monday.

The tender could be the first in a series of auctions as the Indian government seeks to recycle capital into new projects by selling state-owned toll road concessions.