Investors are attracted to the region despite risks like geopolitical tensions as infrastructure deals are trading at about half of US and European valuations, Chern said in an interview. “That’s money on the table,” he said, adding the fund has earned a gross percentage return in “the low 20s” so far.
An Asia-focused infrastructure fund has raised US$800 million ($1.07 billion) from investors including funds managed by BlackRock Inc. and pension manager Alberta Investment Management Corp., amid renewed interest in the asset class.
Set up by a small Singapore-based private equity firm in 2021, Seraya Partners Fund I has closed above its US$750 million target, a statement showed Tuesday. Other investors include insurers, European family offices and sovereign wealth funds from Singapore, South Korea and North America, said James Chern, its managing partner and chief investment officer.
