Allco Finance Group has been forced to postpone the first close of a new infrastructure fund after a cornerstone investor pulled out. The fund, Allco GTI, is a wholesale unlisted fund set up to invest in aviation, shipping, rail and other infrastructure assets.Yesterday the company issued a statement saying the foundation investor was reluctant to proceed "in the current environment". Allco said other investors had expressed similar sentiments.The statement said: "Allco continues to receive positive responses towards Allco GTI and its targeted investment assets. However, the current market volatility and uncertainty is resulting in a heightened level of cautiousness."The underlying assets in which Allco GTI plans to invest continue to perform robustly and are underpinned by strong demand from the operators of those assets as well as a strong appeal to investors targeting the long-term predictable cashflows of these assets."The company did not give any indication when it might achieve a first close, nor did it say whether the intended investments were being held on the Allco balance sheet. It said the decision would not have a material effect on Allco's earnings for this financial year.