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Northleaf Capital Partners closes second infrastructure fund with $950 million of commitments, invests in wind and solar assets in US
Written By: Jen Neville
January 24, 2017
On January 24, Northleaf Capital Partners announced the final closing for its second OECD-focused pooled infrastructure fund, Northleaf Infrastructure Capital Partners II at its $950 million hard cap. Northleaf stressed that its $2.5 billion infrastructure investment program is focused on direct, long-term investments in OECD countries, which is intended to provide investors with stable, consistent cash flow from assets that deliver essential services.
Stuart Waugh, Managing Partner of Northleaf observed: “We are delighted that NICP II was oversubscribed, with strong support from both new and existing investors. Our successful track record and consistent focus on conservatively-positioned small to mid-sized infrastructure assets in developed markets clearly resonates with investors and asset consultants.”
George Zakem, Managing Director of Northleaf and co-head of infrastructure, remarked: “NICP II builds on the success of its predecessor fund, employing the same investment strategy, experienced team and competitive cost structure to generate relative value.”
According to Northleaf, NICP II has already completed its first two investments: a portfolio of bulk liquid storage assets in the United Kingdom and a portfolio of wind and solar assets in the United States.
Jamie Storrow, Managing Director of Northleaf and co-head of infrastructure noted:“We are excited about several promising opportunities under development for NICP II and have strong momentum in our deal pipeline. Our established team, operating from Toronto and London, continues to successfully source, execute and manage on-strategy investments, with the goal of delivering attractive yield and long term returns to our investors.”
Northleaf now claims $9 billion in capital commitments on behalf of more than 70 institutional investors, and the firm’s global investment portfolios include more than 200 active investments in 14 countries.