Samsung Asset Management said on April 19 that it would team up with Australia based-IFM Investors to raise a US$480 million worth private equity fund (PEF) designed to invest in infrastructure globally.
The investment arm of Samsung Group is to go on making investments with signing an agreement on operating the “First Samsung-IFM Global Infra PEF Investment Trust” with IFM at Hotel Shilla in Seoul on the day. The four local institutional investors already agreed to invest jointly US$480 million in the fund.
Melbourne-based IFM Partners, owned by 28 pension funds of Australia, is one of the global top 3 infra investment management companies and operates a total of US$58 billion.
Samsung Asset Management will manage the fund at large, while IMF Partners will be responsible for overseas management of the fund, according to Samsung Asset Management.
The private equity fund raised this time aims to invest in infrastructures in the nations in North America and Europe with A- credit ratings or above.
“We are pleased to launch the global infra fund for the Korean institutional investors together with Samsung Asset Management, based on our philosophy of stable investment and operation performances accumulated over the past 20 years,” said Brett Himbury, CEO of IFM Partners, adding, “We will continue to provide a wide range of investment services down the road.”