CHINA Life Insurance, through a wholly-owned subsidiary, has invested US$100 in Everbright Overseas Infrastructure, a private equity fund sponsored and managed by China Everbright Limited, with an expectation to increase the amount committed in the future.

The fund has now announced the completion of its second closing, reaching US$400 million in size, and has a target of US$1 billion. It currently has two investments, one of them being the Tirana International Airport in Albania. This asset was transferred to the fund on July 14 2017.

Another investment is an optic fibre network company in Hong Kong, leasing its optical fibre assets situated in the rural area and villages to telecom operators. Its business is in line with the latest government policy as stipulated in the latest Policy Address of the Chief Executive of the HKSAR, supporting telecom operations in building optic fibre networks.

The fund primarily invests in equity and equity linked securities of infrastructure related companies globally giving rise to a controlling or significant minority interest, with the objective of providing investors with a balance between risk-adjusted return and stable cash yield. The fund in general targets companies with proven operational track record and sound business model, in addition to solid growth and stable cash income.

It expects to invest in transportation, telecommunication, renewable energy, car parking and other social infrastructure, oil & gas pipeline and storage, as well as utilities sectors. The fund aims to create shareholder value via strategic expansion plan execution, operational improvement initiatives, re-alignment of capital structure and bolt-on acquisitions.

Photo: Tirana-airport.com