MUNICH–(BUSINESS WIRE)–Golding Capital Partners, one of Europe’s leading independent asset managers for alternative investments, has held successful final closings for its two current infrastructure funds, with total commitments of some €1.5 billion. The flagship fund of funds “Golding Infrastructure 2020” closed at €943 million, significantly above its target of €700 million. This makes it the biggest fund in Golding’s company history and one of the largest fund of funds on today’s infrastructure market overall. “Golding Infrastructure Co-Investment 2020” also closed well above its original target at €578 million, thanks to strong investor demand. In each case these impressive results were due around half to existing investors and half to new investors subscribing to Golding funds for the first time. As capital deployment via initial investments has progressed very successfully, investors are already able to put a significant volume of capital to work. Eight subscriptions of primary funds, co-investments and secondary funds have already been made for the fund of funds. The portfolio of the co-investment fund now comprises nine infrastructure assets.
“This record fundraising result for our infrastructure funds is a great validation for our entire infrastructure team, of course, whose long-term track record and market expertise has earned the well-deserved trust of both existing and new investors”, said Hubertus Theile-Ochel, Managing Partner at Golding. “In a more volatile and complex market environment, institutional investors particularly appreciate the characteristics of the asset class, as well as Golding’s relevant competence and proven access to attractive partners and assets”, adds Dr Matthias Reicherter, Managing Partner and Chief Investment Officer at Golding.
Fund volume of Golding Infrastructure 2020 around 35 per cent above plan
The investment strategy of Golding Infrastructure 2020, which is equally popular with existing and new investors, consists of building a broadly diversified portfolio of about 15 infrastructure funds from the primary and secondary markets, with a focus on conservative Core/Core Plus investments, brownfield projects and selected co-investments. It will focus on the key infrastructure markets in Europe and North America. Golding indicates 7 to 8 per cent p.a. as the target net return for the fund.
Golding Infrastructure Co-Investment 2020 in demand from international investors
Golding Infrastructure Co-Investment 2020 enables institutional investors to supplement their existing infrastructure portfolios with selected attractive direct investment opportunities alongside experienced fund managers, primarily in Europe and North America. The investment strategy is particularly popular with experienced investors seeking to deploy capital rapidly and gain direct exposure to infrastructure projects without foregoing the advantages of broad diversification. Golding puts the target net return for the infrastructure co-investment fund at 9 to 10 per cent p.a.
“The well-thought-out, systematic structuring of attractive and solid portfolios for our investors has absolute priority for us. We are right on track with both funds in this respect and as always are focusing on broad diversification in terms of geography and sector, both for the fund of funds and for the co-investment fund”, says Dr Thilo Tecklenburg, Managing Director and Co-Head of Infrastructure at Golding.
“We have a full pipeline of investments through to the end of the year and beyond. We rely on our network and our direct investment experience to find and analyse opportunities and select the most suitable investments for our portfolios. There are still plenty of attractive opportunities even in the current market; in telecoms, energy, transport or recycling, for instance”, adds Bernd Schumacher, Managing Director and Co-Head of Infrastructure at Golding.
Golding is planning to launch the follow-up product to the flagship infrastructure fund of funds aldready in September 2022. The next iteration of the co-investment strategy is scheduled for spring 2023. In addition, Golding is now starting its first dedicated investment strategy focused on the energy transition, which will also be structured as a fund of funds.
About Golding Capital Partners GmbH
Golding Capital Partners GmbH is one of Europe’s leading independent asset managers for alternative investments, focusing on the asset classes infrastructure, private credit, private equity, secondaries and impact. With a team of more over 160 professionals at its offices in Munich, London, Luxembourg, New York, Tokyo and Zurich, Golding Capital Partners helps institutional and professional investors to develop their investment strategy and manages more than €12 billion in assets. Its more than 250 investors include pension funds, insurance companies, foundations, family offices and ecclesiastical institutions, as well as banks, savings banks and cooperative banks. Golding became a signatory of the United Nations Principles for Responsible Investment (UNPRI) in 2013 and has been a supporter of the Task Force on Climate-related Financial Disclosures (TCFD) since 2021.