AMP Capital, a specialist investor with an infrastructure team partly based in London, has closed a $200 million (€176 million) subordinated debt investment in Invenergy Clean Power.
The AMP Capital Infrastructure Debt Fund II will provide three-quarters of the loan and the remaining $50 million will be “warehoused” by AMP Capital for future strategies.
The investment reflects how direct loans from fund managers are emerging as a growth asset class.
Invenergy Clean Power develops, owns and operates power generation and energy storage facilities in North America and Europe. Invenergy will use the loan to continue to grow its thermal generating platform.
AMP Capital’s loan is secured by a portfolio of Invenergy natural gas-fired power plants in the US and Canada.
AMP Capital, which has $114 billion of assets under management, has been investing in the subordinated debt of infrastructure assets since 1998.
©2015 funds europe