By Stuart Kelly

Dec. 31 (Bloomberg) -- Allco Finance Group Ltd., a Sydney- based manager of assets including ships and aircraft, said an Australian institution will invest A$200 million ($176 million) in its new transport and infrastructure fund. The shares rose.

The fund, which will invest up to A$450 million worldwide in aviation, shipping, rail and infrastructure, received its first commitment from the unidentified investor three months earlier than expected, Allco said in a statement to the Australian stock exchange.

Allco jumped 7.6 percent to A$6.20 at the close in Sydney trading. The shares have lost more than half their value this year as defaults on U.S. subprime mortgages sparked a global slump in financial markets.

The company, which manages A$17.8 billion, said its Global Transport and Infrastructure Fund bought stakes in five European wind farms, three aircraft and 27 ships. It's one of four funds Allco originally planned to start in the first half of 2008.

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Posted by dcjaya at December 31, 2007 12:58 AM