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Northleaf Capital Partners, Canada's largest independent global private markets fund manager and advisor, has closed its pooled infrastructure fund, Northleaf Infrastructure Co-Investment Partners (NICP), with CAD$520 million in commitments, surpassing its CAD$300 million fundraising target.
With the final close of NICP, Northleaf's infrastructure platform now has more than CAD$900 million in capital commitments.
Stuart Waugh, Managing Partner and Managing Director of Northleaf, stated:
We sincerely appreciate the support we have received for NICP from both existing and new investors. They have entrusted us with a significant pool of capital and we are focused on investing this capital in a disciplined, thoughtful and productive manner. NICP is designed to provide direct access to mature infrastructure assets in OECD countries through an innovative cost structure with enhanced portfolio construction and liquidity features - an investment strategy and approach that have resonated with investors and leading asset consultants.
George Zakem, Managing Director of Northleaf and co-head of the firm's infrastructure group, commented:
With a substantial program to invest, it is important for us to continue to build a proprietary pipeline of compelling, on-strategy infrastructure opportunities. We have built a highly experienced investment team that is focused on proactively sourcing, evaluating and executing direct infrastructure investments.
NICP is building an attractive portfolio of mature, yielding assets in OECD countries and has already invested approximately 15% of the Fund's capital in three operating assets.
Jamie Storrow, Managing Director of Northleaf and co-head of the firm's infrastructure group, stated:
We are providing our investors with direct exposure to mature, conservatively positioned infrastructure assets alongside leading institutional investors, strategic operators and fund managers. We have a cost-effective, buy-and-hold approach with the flexibility to evaluate opportunities across geographies, sectors and alongside a diverse set of investment partners, which has been important when seeking relative value in what is currently a very competitive market.