RBC Global Asset Management (RBC GAM) announced the completion of the second subscription for the RBC Global Infrastructure Fund LP, raising over $850 million in commitments from over 2,100 Canadian individual and institutional investors. And the second subscription followed the fund’s successful initial launch in May 2023, bringing the total subscriptions to over $1.5 billion since its inception last year.
The fund offers qualified investors with access to an underlying portfolio of directly held infrastructure assets, with the goal of delivering attractive risk-adjusted returns. The fund’s manager will identify co-investment partners to invest in core and core+ infrastructure assets diversified across sectors primarily focused in developed market economies.
The fund’s manager expects to deploy the majority of its committed capital in the next year, after which another subscription period will commence. This fund is open to qualified Canadian individual and institutional investors.
KEY QUOTES:
“We have developed RBC Global Asset Management’s private market investment program around the principles of premium direct asset ownership, long term return resiliency and enduring earning power. The RBC Global Infrastructure Fund LP, led by Andrew Hay and his team, has been a prime example of executing with focus. The Fund has quickly become a strong addition to our direct real estate and mortgage funds, giving investors a compelling set of complementary private market strategies to consider.”
- Michael Kitt, Managing Director and Head, Private Markets, RBC GAM
“We saw tremendous interest as we materially exceeded our initial commitment target over the course of our six-week fundraising period, and we are grateful for the support from investors. With more than $900 million in commitments available to deploy, the Fund is well-positioned to take advantage of market opportunities and to continue to build a portfolio of global private infrastructure investments.”
- Andrew Hay, Managing Director and Head of Global Infrastructure Investments, RBC GAM