Growth Markets

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 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.

The 216MW run-of-river project, expected to increase power supplies by a third, had to be redesigned after a 2015 earthquake destroyed early construction works.

The National Investment and Infrastructure Fund’s managing director, Sujoy Bose, explains how the government-backed GP expects to lure investors.

Claiming investment needs ‘can’t be met by a handful of institutional investors’, the Swiss asset manager is offering its open-ended listed fund to retail investors.

Once fundraising kicks off, CGN’s private equity arm and the infra-focused investment firm will look to divest the portfolio of their first renewables vehicle, the 2015-vintage CGN Capital Partners Infrastructure Fund III.

The Tokyo-based asset manager has already approved the deployment of ¥11bn in renewables and downstream energy projects in Europe and South America.

Meridiam’s second closing of its Africa infrastructure fund shows both the opportunities provided by the continent and investors’ continued perceptions of it.