Golding Capital Partners, an independent asset manager for alternative investments, has held successful final closings for its two current infrastructure funds, with total commitments of some €1.5 billion.
The flagship fund of funds “Golding Infrastructure 2020” closed at €943 million, significantly above its target of €700 million, making it the biggest fund in Golding’s company history and one of the largest fund of funds on today’s infrastructure market overall.
“Golding Infrastructure Co-Investment 2020” meanwhile, also closed well above its original target at €578 million, thanks to strong investor demand. In each case these impressive results were due around half to existing investors and half to new investors subscribing to Golding funds for the first time.
As capital deployment via initial investments has progressed very successfully, investors are already able to put a significant volume of capital to work. Eight subscriptions of primary funds, co-investments and secondary funds have already been made for the fund of funds. The portfolio of the co-investment fund now comprises nine infrastructure assets.
The investment strategy of Golding Infrastructure 2020, which is equally popular with existing and new investors, consists of building a broadly diversified portfolio of about 15 infrastructure funds from the primary and secondary markets, with a focus on conservative Core/Core Plus investments, brownfield projects and selected co-investments. It will focus on the key infrastructure markets in Europe and North America. Golding indicates 7 to 8 per cent p.a. as the target net return for the fund.
Golding Infrastructure Co-Investment 2020 enables institutional investors to supplement their existing infrastructure portfolios with selected attractive direct investment opportunities alongside experienced fund managers, primarily in Europe and North America. The investment strategy is particularly popular with experienced investors seeking to deploy capital rapidly and gain direct exposure to infrastructure projects without foregoing the advantages of broad diversification. Golding puts the target net return for the infrastructure co-investment fund at 9 to 10 per cent pa.