QIC Secures $1 Billion Extension for QIC Global Infrastructure Fund
Posted on 10/27/2021
QIC has announced the final close of the extension of the QIC Global Infrastructure Fund, hitting its hard cap of $1 billion within a seven-month period. The majority of commitments were received from existing QIC Global Infrastructure Fund investors. QIC welcomed two new investors into QIC Global Infrastructure Fund. The QIC Global Infrastructure Fund extension capital will primarily target bolt-on opportunities within existing assets and some new thematically linked investments, to further deliver growth, diversification, and resilience to the portfolio. This strategy is already well-progressed, with close to half of the extension capital already invested.
QIC Global Infrastructure Fund capital was used in the acquisition of Tilt Renewables by PowAR (Powering Australian Renewables). The second was a follow-on investment in US distributed infrastructure platform Generate Capital where QIC is lead investor. The third was the acquisition of CenTrio (formerly Enwave Energy US), a pure-play district energy platform in the U.S.
The first fundraise for QIC Global Infrastructure Fund reached its hard cap of A$ 2.375 billion in March 2017 and was fully committed across ten assets in December 2019.