InstarAGF nears close of $750 mln flagship infrastructure fund

InstarAGF Asset Management has raised $522 million for its flagship infrastructure fund, InstarAGF Essential Infrastructure Fund. The commitments, which came from a mix of institutional and high-net-worth investors, represent about 70 percent of the fund's target of $750 million. It is expected to close in early 2017. Toronto's InstarAGF, a joint venture between Instar Group Inc and AGF Management Ltd, said about $210 million of the funds raised so far have been invested in three deals. They include last year's acquisition of the passenger terminal at Billy Bishop Toronto City Airport and this year's investment in Steel Reef Infrastructure Corp, a Canadian midstream company.

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