Industry Funds Management (IFM) has invested in a $90-million senior secured debt facility, as part of a $1.2-billion refinancing of the owner and operator of Melbourne's Eastlink Freeway, ConnectEast.
The investment was made on behalf of IFM's Alternative Fixed Income Fund (AFIF) and other IFM infrastructure debt mandates.
IFM participated in the refinancing alongside major banks and other institutional investors.
"These assets offer very attractive risk-adjusted returns to investors in the current economic environment and are a good value add for debt investors seeking additional sources of return for their portfolios," IFM debt investments executive director Robin Miller said.
AFIF is a pure credit fund with a 13-year track record, offering a diversified portfolio of Australian-focused credit assets.
The fund has returned 8.08 per cent a year since its inception to 31 May 2012.
IFM currently has over $10 billion under management in debt and cash assets, including over $1.2 billion in infrastructure debt.
