Click here for printer friendly page

Henderson launches energy fund

Henderson Private Capital, the private equity arm of AMP Henderson Global Investors, is planning an $800m utilities fund focusing on the Australian energy market. The fund's launch is dependent on a complex restructuring deal.

Henderson will restructure three energy companies in Victoria and Western Australia, United Energy Limited (UEL), Multinet and the networks business of AlintaGas. The deal is expected to be completed by late July, according to a Dow Jones report.

The fund will be launched with initial investments comprising a 66 per cent stake in UEL's Victorian electricity distribution business, an 80 per cent stake in Multinet's gas distribution arm and a 25 per cent stake in Alinta's gas distribution business in Western Australia.

The transaction ‘will create for AMP Henderson clients a diversified utilities fund invested in high quality energy distribution businesses,' said Phil Garling, head of infrastructure at Henderson Private Capital Asia Pacific.

‘The AMP Henderson Utilities fund will be well positioned to participate in any further consolidation of the energy transmission and distribution sectors in Australia,' Garling added in a statement.

Henderson's core activities include management buy-outs, expansion capital, infrastructure and fund of funds. It currently has $4.6bn of assets under management and has operations in Europe, Asia and Australia.

Copyright © 2003 AltAssets