AMP Capital receives $200m boost from Canadian pension fund

The administrator of one of Canada's largest pension funds has invested US$200 million with AMP Capital's global infrastructure strategy boosting its status four months after the strategy's launch.

The Ontario Pension Board (OPB), the administrator of the 80,000 member defined benefit Public Service Pension Plan with $22 billion in assets, invested the sum which will make up 10 per cent of the strategy's target size of US$2 billion.

AMP Capital Global Head of Infrastructure Equity Boe Pahari said the investment was an endorsement of the strength of the strategy which accesses diversified European infrastructure equity in sectors such as transport, communication and utilities.

OPB Private Markets' managing director Glenn Hubert said the pension fund board was impressed with the longevity, scope and success of AMP Capital's infrastructure investments as well as it growing market presence in North America which includes an infrastructure equity investment team based in New York.

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AMP Capital Head of Americas, Infrastructure Equity Dylan Foo said the group would continue to grow in that region by focusing on mid-market opportunities where it could see relative value versus larger transactions.

The move by the OPB follows reports that Canadian pension funds were also being drawn to invest in Australian infrastructure projects and developments resulting from the Federal Government's efforts to boost spending in that sector.