AXA & Insurance Development Forum Announce First Close of Infrastructure Resilience Development Fund

AXA, in collaboration with the Insurance Development Forum (IDF), is pleased to announce the first close of the Infrastructure Resilience Development Fund (IRDF). Managed by Global Infrastructure Partners (GIP), a BlackRock subsidiary, the IRDF is built upon the Infrastructure Resilience Development Blueprint developed over the past two years by IDF members including AXA, Convex, Generali, SCOR, Swiss Re, and Zurich. Following intensive collaboration with BlackRock/GIP, this innovative structure was designed to meet the investment criteria of the insurance sector and other institutional investors, aligning with the IDF’s core mission: to close natural catastrophe protection gaps and enhance resilience for vulnerable communities in emerging markets and developing economies.

This debt fund will invest in small to medium-sized commercial infrastructure projects across Latin America, Asia, and Africa. It aims to build a diversified portfolio of resilient infrastructure assets, including clean water and water management, waste management, energy, transportation, hospitals, digital infrastructure, and other vital assets. The fund offers investors access to a blended pool of senior and mezzanine debt, with the goal of delivering attractive risk-adjusted returns, predictable cash flows, alongside positive social and environmental outcomes.

The first closed raised USD 340 million, including a substantial commitment from the International Finance Corporation (IFC) and the IDF members who contributed to the fund’s blueprint. The fund has also approved its first investment and has a pipeline of potential projects. Fundraising will continue into 2026, with plans to attract additional capital from insurers and other institutional investors.