Allco launches transport and infrastructure fund

Lloyds List DCN
03/01/2008 Page: 3

SHIPS, aircraft and windfarms feature in Allco Finance Group's newly launched transport and infrastructure fund, the company said this week. Allco said that what it had described as "the first globally diversified transport and infrastructure fund", Allco GTI, was ahead of schedule. The first close was expected this month with a subsequent and final close expected to occur later in the year.

"Allco GTI is an unlisted, wholesale fund that will invest in aviation, shipping, rail and specialised infrastructure assets that will seek to provide reliable absolute returns with a long term cash flow component," the company said. "Allco is targeting total capital commitments of $350m-$450m from a limited number of investors. "The fund's seed assets include a share of five European wind farms, direct investments in three aircraft, and a share in a portfolio of 27 ships. "These assets were originally on Allco's balance sheet." The fund offered investors access to Allco's proven and proprietary deal flow in its core asset classes.

Allco's experience in transportation origination, financing and asset management has been built over almost 30 years, the company said. In transportation financing, Allco has financed over $601m of deals in transport and infrastructure assets since the company was founded in 1979. The team managing Allco GTI will be led by the designated fund manager, Tze Masters, as chief investment officer. Ms Masters has extensive experience in investing in transportation and infrastructure, having previously been in similar positions for Allco Finance Group and Record Investments.