We are delighted to share that this week, Private Infrastructure Development Group (PIDG) announced that, subject to regulatory and investor approvals, PIDG will support the Infrastructure Resilience Development Fund (IRDF) through a USD 6.4 million first-loss catalytic capital investment. GuarantCo, PIDG’s guarantees solution, will provide certain IRDF investors with a USD 35 million partial second-loss guarantee at the end of the fund life. This is in the context of a commitment by PIDG to help mobilise approximately USD 750 million in private institutional investment for climate-resilient infrastructure in emerging markets and developing economies.
The original blueprint for the Infrastructure Resilience Development Fund (IRDF) was designed by an IDF team of insurance industry Chief Investment Officers, specifically to meet the investment criteria of the insurance sector and similarly situated institutional investors – and to advance the goals of the IDF to close natural catastrophe protection gaps. It was then refined through intensive collaboration between the IDF and BlackRock/Global Infrastructure Partners (GIP). Today the fund is managed by GIP, a part of BlackRock.
The commitment by PIDG to provide these two instruments strengthens the fund’s risk profile for institutional investors. It also contributes to create a structure that can mobilise capital at scale into the targeted sectors. These include clean energy, water and sanitation, transport, digital infrastructure and other climate-resilient assets.
Read the full PIDG press release:
