Golding Capital Partners has held the first close of its flagship infrastructure fund of funds, Golding Infrastructure 2022 – the fifth generation of the firm’s infrastructure strategy – with €360m in capital commitments.
Some 26% of the commitments are from new investors.
Portfolio construction has advanced quickly, with five investments made in 2023 and some 14% of capital already called up.
According to a press release, the institutional AIF qualifies for Article 8 SFDR and will adhere to Golding’s strategy for infrastructure products. With a target portfolio of around 15 funds from the primary and secondary markets and a total of some 150 to 250 individual transactions (including around 15 co-investments), Golding Infrastructure 2022 will focus on a broad geographic and sector diversification and resilient investments offering attractive risk-adjusted returns. The fund will also continue to concentrate on infrastructure markets in Europe and North America.
The only slight adjustment has been to the allocation for transaction-based investments, which include secondaries and co-investments. Two of the investments in portfolio funds were completed via secondary market transactions and a commitment has also been made to an initial co-investment deal.
Golding Infrastructure 2022 is open to institutional investors making a minimum commitment of €5m. The fund has a planned life of 15 years plus one optional extension. Its target net IRR is 8% to 9% per annum and its target volume is €700m.
