<article><a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Queensland+Investment+Corporation">Queensland Investment Corporation</a> has announced the final close of its QIC Global Infrastructure Fund (QGIF) which pooled A$2.35 billion of capital commitments &#8211; significantly higher than previous target of $1.75 billion.</article>

<a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Queensland+Investment+Corporation">Queensland Investment Corporation</a> has announced the final close of its QIC Global Infrastructure Fund (QGIF) which pooled A$2.35 billion of capital commitments &#8211; significantly higher than previous target of $1.75 billion.
During the 18-month fundraising, the Queensland government-owned fund manager attracted at least 20 investors, including offshore sovereign and pension funds, into the still buoyant market for port, road and utility assets.
The fund was part of QIC’s strategy of sector-centric and active-core approach, the firm said in a statement. It has been backed by Australasian investors including China, Japan, and Korea, along with investors from the US and Europe.
Commenting on the close, QIC&#8217;s CEO Damien Frawley said: &#8220;QGIF&#8217;s successful fund-raise underscores strong institutional investor support for alternative investments as well as QIC&#8217;s strategic focus on diversified alternatives.&#8221;
Meawhile, Ross Israel, Head of QIC Global Infrastructure, said: &#8220;I&#8217;m delighted to announce the final close of QGIF, following a successful first close in August 2015. It endorses our ability to secure through focused origination and execution processes high quality infrastructure assets and builds a strong investment pipeline for our investors.&#8221;
The fund is claimed to be providing institutional investors with access to “attractive, risk-adjusted returns through long-term exposure to a diversified portfolio of global infrastructure assets”, in which investors benefit immediately from the fund’s interests in three infrastructure assets.
The assets, secured since the investment period commenced in August 2015, are Lochard Energy (which owns and operates the Iona Gas Plant), the Powering Australian Renewables Fund (PARF, a joint investment with AGL and Future Fund) and the Port of Melbourne.
QGIF’s <a style="color: #000080;" href="http://www.dealstreetasia.com/stories/qic-announces-800m-first-close-on-global-infrastructure-fund-10064/" target="_blank">first close</a> was in August 2015 where it raised $800 million to invest in renewable energy outside of Australia. Then, it secured commitments from a range of institutional investors including Hostplus, one of Australia’s largest superannuation funds, an Asian sovereign wealth fund, one of China’s leading insurers and two foundation QIC clients. An additional commitment has also been made under a co-investment arrangement.
QIC is one of the largest institutional investment managers in Australia, with A$73.8 billion  in funds under management, offering infrastructure, real estate, private equity, liquid strategies and multi-asset investment services. It has over 90 clients including governments, pension plans, sovereign wealth funds and insurers, spanning Australia, Europe, Asia, Middle East and the US.
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QIC closes global infrastructure fund at A$2.35b, beats target of A$1.75b

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QIC closes global infrastructure fund at A$2.35b, beats target of A$1.75b

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