Global Infrastructure Partners, the private-equity firm run by former Credit Suisse First Boston investment banking head Adebayo Ogunlesi, is seeking $2.5bn for debt investments as new regulations make it more costly for banks to lend to projects such as windfarms and airports.
Bloomberg News reports that Steve Cheng and Reiner Boehning, previously heads of global project finance at Credit Suisse, will manage the debut credit pool for GIP, according to a person with knowledge of the matter.
They will invest in loans tied to energy, transport, water, waste, greenfield and brownfield assets, said the person, who asked not to be identified because the information is private.
GIP, which manages about $18.7bn and has led acquisitions of Gatwick Airport in the U.K. and had a stake in Australia’s Port of Brisbane, is gathering capital as institutional investors turn to private debt after bond yields shrunk to historic lows. New capital regulations put in place after the 2008 financial crisis are also making it more expensive for banks to originate and hold debt.
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