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Investors Keep Flocking to US Infrastructure, Even Without a Trump Plan

Investors Keep Flocking to US Infrastructure, Even Without a Trump Plan

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Gillian Tan | Bloomberg News
August 29, 2018 4:15 PM, EDT

IFM Investors has raised almost $500 million for its first debt fund dedicated to U.S. infrastructure even as the Trump administration has yet to move ahead with its own infrastructure plan.

IFM is seeking to raise about $500 million a year for an open-ended fund that will target senior-secured, floating rate loans in the sector, according to Rich Randall, its global head of debt investments. The firm, owned by 27 Australian pension funds and with about $80 billion in assets under management, has secured commitments for the debt fund from the Kentucky and Virginia retirement plans.

While President Donald Trump has promised to rebuild America’s crumbling infrastructure, the White House has said no action on a bill is likely this year. Institutional investors, however, are forging ahead, raising billions of dollars for deals in the arena. Blackstone Group LP has lined up $5 billion for its inaugural $40 billion infrastructure fund, Bloomberg News reported in June. Other firms including Carlyle Group LP, 3i Group Plc and Global Infrastructure Partners are also in the throes of raising dedicated funds... FULL ARTICLE

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