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Boreal' public bus in Norway (Courtesy of Boreal Holdings AS)
Korea’s ABL Life Insurance Co. has participated in Everbright Overseas Infrastructure Investment Fund LP, a $460 million fund managed by Hong Kong-listed China Everbright Ltd. Two Everbright affiliates injected a combined $400 million, while ABL and China Life Insurance Company Ltd. respectively invested $31 million and $30 million, sources familiar with the matter told The Korea Economic Daily.Everbright launched the firm's first overseas infrastructure fund in 2017 and closed in August 2019. The fund has invested in China’s JD Logistics Inc., Hong Kong-based Top Express Telecommunication Service Ltd. and a DHL logistics center in Thailand. Equities in JD Logistics and the DHL warehouse will be disposed of within 2022, the source said.The fund has sold two assets to date, reaching a 13% return. It closed the deal of Boreal Holdings AS and its subsidiaries, a leading public transportation services provider based in Stavanger, Norway, to Paris-based Vauban Infrastructure Partners last November. Many global infrastructure blind pool funds participated in the public bidding for the company as Norway’s bus routes guarantee stable profits based on a public transportation system. The fund gained a 17% return from the sale, The Korea Economic Daily understood.The other asset is Albania’s Tirana International Airport SHPK sold in the end-2020 to Kastrati Group SHA, an Albania-based petroleum company. The return from the sale reached 15%, and the global airport deals are set to increase thanks to positive outlooks for post-pandemic flight services, the sources said. Aiming 11 to 13% of return, the fund will liquidate all the assets by 2023.By Jihyun Kimsnowy@hankyung.com
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