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Aecom targets up to $300m for second real estate, infra fund

2 Jul 2014

apartment_real_estate_170sqThe private equity arm of Aecom Technology Corp is reportedly due to launch Global Fund II with a target of between $200 and $300m for real estate and infrastructure deals.

Aecom Capital is aiming for one or two large institutional investors for its second fund, which will target up to 10 equity investments of $10m to $30m each according to chief executive John Livingston, who spoke to Buyouts magazine.

The latest vehicle follows the success of Aecom Capital’s first fund, which closed in the first quarter this year with $150m after launching in early 2013.

Livingston said private equity allows Aecom to offer financing packages and equity investments to its existing customers of real estate developers, corporations and government organizations.

So far that vehicle has committed $100m to six projects which require total investment of $2.3bn. These include mixed use residential, retail and hotel projects in areas such as Queens, New York and California.

Recent projects include residential developments in Provost Square Jersey City and South Park in Los Angeles.

Aecom is also understood to be looking at big-ticket projects such as apartment complexes, bridge repair, water treatment plants and courthouses as an investor.

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