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InstarAGF Essential Infrastructure Fund Achieves Strong First Close
InstarAGF Essential Infrastructure Fund Achieves Strong First Close InstarAGF Esse...
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[{"type":"text","content":"\n\n\n\nInstarAGF Essential Infrastructure Fund Achieves Strong First Close\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nInstarAGF Essential Infrastructure Fund Achieves Strong First Close\nCanada NewsWire\nTORONTO, March 2, 2016\n\n\n\nTORONTO, March 2, 2016 /CNW/ - InstarAGF Asset Management Inc. (\"InstarAGF\" or the \"Company\") and AGF Management Limited (TSX: AGF.B; \"AGF\") today announced the successful first close of the InstarAGF Essential Infrastructure Fund (the \"Fund\") with $372 million in firm equity commitments, representing approximately 50% of the Fund's targeted size, and the potential for cornerstone investors to upsize to $422 million in committed capital prior to the final close of the Fund.  All amounts are in Canadian dollars.\n\nThe Fund, which focuses on mid-sized infrastructure assets in North America, attracted a diversified, high quality group of institutional and high net worth investors from Canada, Europe, the United Kingdom and United States.  In addition, all of InstarAGF's employees have made investments in the Fund, thereby ensuring strong alignment with investors.\n\n\"We are delighted to partner with an exceptional group of cornerstone investors, which validates InstarAGF's distinctive middle market value proposition, deep industry relationships and the quality of the Fund's seed assets,\" said Gregory Smith, President and Chief Executive Officer of InstarAGF. \"Infrastructure is an increasingly important component of most institutional portfolios, which reflects growing demand for real assets that are more resilient to economic cycles and less correlated with traditional asset classes, and that deliver current income while providing inflation protection.\"\n\nApproximately $135 million of the capital raised by the Fund has already been committed to two investments: an interest in the passenger terminal at Billy Bishop Toronto City Airport, a vital transportation hub for the city of Toronto and surrounding region; and a 30-megawatt wind power development project in British Columbia that is expected to start operati...