TORONTO, Aug. 29, 2024 /CNW/ - RBC Global Asset Management Inc. ("RBC GAM Inc.") today announced the completion of the second subscription of the RBC Global Infrastructure Fund LP ("the Fund"), raising over $850 million in commitments from more than 2,100 Canadian individual and institutional investors. The second subscription followed the Fund's successful initial launch in May 2023, bringing total subscriptions to over $1.5 billion since its inception last year.
The Fund provides qualified investors with access to an underlying portfolio of directly held infrastructure assets, with the aim of delivering attractive risk-adjusted returns. The Fund's manager will identify co-investment partners to invest in core/core+ infrastructure assets diversified across sectors primarily focused in developed market economies.
Michael Kitt, managing director and head, Private Markets, RBC GAM Inc. said, "We have developed RBC GAM's private market investment program around the principles of premium direct asset ownership, long term return resiliency and enduring earning power, and the RBC Global Infrastructure Fund LP led by Andrew Hay and team has been a wonderful example of executing with focus. The Fund has quickly become a strong addition to our direct real estate and mortgage funds, giving investors a compelling set of complementary private market strategies to consider."
"We saw tremendous interest as we materially exceeded our initial commitment target over the course of our six-week fundraising period, and we are grateful for the support from investors," said Andrew Hay, managing director and head of Global Infrastructure Investments, RBC GAM Inc. "With more than $900 million in commitments available to deploy, the Fund is well-positioned to take advantage of market opportunities and to continue to build a portfolio of global private infrastructure investments."
The Fund's manager expects to deploy the majority of its committed capital over the next year, after which another subscription period will commence. The Fund is open to qualified Canadian individual and institutional investors.
For more information about RBC Global Infrastructure Fund LP, please visit here.
This information is not intended to be an offer or solicitation to buy or sell securities or to participate in or subscribe for any service. No securities are being offered, except pursuant and subject to the respective offering documents and subscription materials, which may be provided to qualified investors only. This document is for general information only and is not, nor does it purport to be, professional advice or a complete description of an investment in any fund managed by RBC Global Asset Management Inc. (RBC GAM). If there is an inconsistency between this document and the respective offering documents, the provisions of the respective offering documents shall prevail. Information obtained from third parties is believed to be reliable, but no representation or warranty, express or implied, is made by RBC GAM, its affiliates or any other person as to its accuracy, completeness or correctness. RBC GAM and its affiliates assume no responsibility for any errors or omissions.
Investments in alternative funds are speculative and involve significant risk of loss of all or a substantial amount of your investment. Alternative funds may: (i) engage in leverage and other speculative investment practices that may increase the risk of investment loss; (ii) can be highly illiquid; (iii) are not required to provide periodic pricing or valuation information to investors; and (iv) are not subject to the same regulatory requirements as prospectus-offered mutual funds. In assessing the suitability of this investment, investors should carefully consider their personal circumstances including time horizon, liquidity needs, portfolio size, income, investment knowledge and attitude toward price fluctuations. Investors should consult their professional advisors and consultants regarding any tax, accounting, legal or financial considerations before making a decision as to whether the funds mentioned in this material are a suitable investment for them.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the fund's offering documents before investing. The performance data provided assumes reinvestment of distributions only and does not take into account sales, redemption, distribution or optional charges or income taxes payable by any unitholder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
About RBC
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 100,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 18 million clients in Canada, the U.S. and 27 other countries. Learn more at rbc.com.
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About RBC Global Asset Management
RBC Global Asset Management (RBC GAM) is the asset management division of Royal Bank of Canada (RBC). RBC GAM is a provider of global investment management services and solutions to institutional, high-net-worth and individual investors through separate accounts, pooled funds, mutual funds, hedge funds, exchange-traded funds and specialty investment strategies. RBC Funds, BlueBay Funds, PH&N Funds and RBC ETFs are offered by RBC Global Asset Management Inc. (RBC GAM Inc.) and distributed through authorized dealers in Canada. The RBC GAM group of companies, which includes RBC GAM Inc. (including PH&N Institutional) and RBC Indigo Asset Management Inc., manage approximately $625 billion in assets and have approximately 1,600 employees located across Canada, the United States, Europe and Asia.
SOURCE RBC Global Asset Management Inc.
For more information, please contact: Brandon Dorey, RBC GAM Corporate Communications, 647-262-6307, [email protected]
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