Japanese insurance giant eyes PPPs

A major Japanese institutional investor is to expand overseas project finance investment following investments in two PPPs.

The Dai-ichi Life Insurance Company announced this week it is pursuing geographic diversification of its portfolio following investments in the UK’s High Speed 1 and Australia’s Victorian Desalination Project.

Dai-ichi Life has been “proactively engaging in project finance” in Japan since 2013.The firm, Japan’s third largest life insurance provider, invested ¥4.5bn ($40m) into each PPP concession.

As previously reported the HS1 transaction was completed in September, while the AquaSure deal reached financial close on a refinancing package for the VDP in October