Irish Life Investment Managers hired AMP Capital Investors to subadvise on its €1 billion ($1.4 billion) Irish Infrastructure Trust, confirmed Irish Life spokesman Ray Gordon.
Seed funding for the trust of €250 million comes from the €5.3 billion National Pensions Reserve Fund, Dublin. Another €50 million has been committed from other ILIM clients whom Mr. Gordon would not name.
The fund will invest in infrastructure assets being sold by the Irish government and state enterprises, as well as in new investment projects. It will be marketed to institutional investors in and outside of Ireland.