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Ping An Global Infrastructure Funds close with USD758m

China Ping An Insurance Overseas (Holdings) Limited, together with its subsidiaries (PAOH), the main overseas investment and asset management platform of Ping An Insurance (Group) Company of China, has closed the Ping An Global Infrastructure Funds with USD758 million in capital commitments.

“The Funds were partially seeded by Ping An with fund investments and co-investments. The Funds’ investments will focus on telecommunication, transportation, midstream, power, utilities and other infrastructure assets. They provide third party investors the opportunity to invest alongside Ping An in primarily OECD countries. The Funds’ investment strategy builds on Ping An’s over 10 years of successful infrastructure investment in China and overseas,” says Dennis Chan, Head of Infrastructure and Managing Director of PAOH.

“We are very pleased to see the completion of the fundraising for our Global Infrastructure Funds, which marks our first step in successfully turning our strong in-house investment capabilities into making a truly global asset management business. We are also very delighted to have Ardian, a world-leading alternative investment house, to anchor our Funds. To follow upon the tremendous success in our asset management business in China, PAOH aspires to become a leading asset manager in Asia with a focus on alternative asset class investing as well as on applying the latest quantitative research and AI technology to investing. The launch of our Funds is our first important step towards the realisation of our aspiration and we look forward to offering and sharing more investment opportunities with third-party investors in the future,” says Hoi Tung, Chairman and CEO of PAOH.

Ardian is a world-leading private investment house with USD90 billion of assets managed or advised that has particular strengths in fund of funds, direct funds and infrastructure. Jan P Schmitz, Member of the Executive Board and Head of Ardian Asia and Head of Ardian Germany, says: “We see this as an opportunity for Ardian to partner with a highly experienced team with a great track-record that we got to know well during the lengthy bilateral discussions that ultimately led to this transaction. This complex carve-out transaction is the perfect example of what we are able to offer to financial institutions in terms of portfolio and team structuring. Ping An has been a pioneer in China’s asset management industry and we look forward to supporting the team.”

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