News / AGF and Instar launch infrastructure offering for Institutional Investors

AGF and Instar launch infrastructure offering for Institutional Investors

🕔 January 30, 2014
US$3 billion final close for Macquarie Super Core Infrastucture Fund Series 1

AGF Management Limited and Instar Group Inc. announced last week the launch of InstarAGF Asset Management Inc., a new joint venture that will provide global institutional investors with access to infrastructure investment opportunities.

Based in Toronto and led by Gregory Smith, a pioneer in the infrastructure investment community and ex- Macquarie, the new company will invest in and manage a range of alternative asset funds, with primary focus on infrastructure assets.

AGF will be an active shareholder in the joint venture, providing a range of operational services, working capital, and seed capital investment.

Blake C. Goldring, Chairman and Chief Executive Officer, AGF Management Limited, said:

"AGF is delighted to be working with Greg Smith in this important new venture. Allocations to alternatives have been steadily increasing, and private infrastructure assets remain especially attractive to institutional investors with long-dated liabilities. This new investment capability bolsters our current product offering and will leverage our global distribution footprint."

Greg Smith, a 20-year veteran in the investment, operations, acquisition, and financing of public and private infrastructure, real estate, power, and utility businesses, will lead the company.

Prior to founding Instar, Gregory was Managing Partner and head of Brookfield Financials Global Infrastructure Advisory Group. Gregory was also the President of Macquarie Capital Funds Canada Ltd. During this time, Greg also served as President and Chief Executive Officer of Macquarie Power & Infrastructure Income Fund, a Toronto Stock Exchange listed fund, and as a Director and Chief Executive Officer of Macquarie Essential Assets Partnership, a private fund.

Prior to Macquarie, Mr. Smith was Managing Director and Co-Head of RBC Capital Partners - Mezzanine Fund and a Managing Director at Deloitte & Touche Corporate Finance.

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