Northleaf Capital Partners has held the final closing for its second OECD-focused pooled infrastructure fund, Northleaf Infrastructure Capital Partners II (NICP II), at its USD950 million hard cap.
Northleaf’s USD2.5 billion infrastructure programme is focused on direct, long-term investments in OECD countries, providing investors with stable, consistent cash flow from assets that deliver essential services.
“We are delighted that NICP II was oversubscribed, with strong support from both new and existing investors,” says Stuart Waugh, managing partner of Northleaf. “Our successful track record and consistent focus on conservatively-positioned small to mid-sized infrastructure assets in developed markets clearly resonates with investors and asset consultants.”
Northleaf’s first pooled infrastructure fund, Northleaf Infrastructure Capital Partners I (NICP I), is fully committed to a portfolio of infrastructure assets well-diversified by geography, investment type and sector. Northleaf launched NICP II in late 2015.
George Zakem, managing director of Northleaf and co-head of infrastructure, says: “NICP II builds on the success of its predecessor fund, employing the same investment strategy, experienced team and competitive cost structure to generate relative value.”
NICP II has already completed its first two investments: a portfolio of bulk liquid storage assets in the UK and a portfolio of wind and solar assets in the US. More recently, NICP II committed to acquire a stake in Northwest Parkway, a highway that forms part of the ring road around Denver, Colorado.
“We are excited about several promising opportunities under development for NICP II and have strong momentum in our deal pipeline,” says Jamie Storrow, managing director of Northleaf and co-head of infrastructure. “Our established team, operating from Toronto and London, continues to successfully source, execute and manage on-strategy investments, with the goal of delivering attractive yield and long term returns to our investors.”
