Macquarie Infrastructure Debt Investment Solutions has closed its first global infrastructure debt fund, securing $645 million.
The Macquarie Global Infrastructure Debt Fund, which was launched in 2016, was understood to have had a target of $1 billion, although many of MIDIS’s existing investors are understood to have invested via separate accounts while the blind pool was entirely made up of new investors. Macquarie declined to comment on the fundraising target.
The fund has made 18 investments to date, including leading a consortium in the €140 million fixed-rate, senior debt refinancing of a 30.3MW Spanish solar portfolio in June 2018. Other investments include transport, utility and energy deals in the UK, Europe, the US and Australia. More than a quarter of the deals in the fund have been in the renewables sector, MIDIS said in a statement.
Some 53 percent of investors are understood to have been from Europe, with Asia representing 31 percent of commitments and the UK 16 percent. According to Companies House, investors include Dutch pension group Stichting Pensioenfonds Medisch Specialisten, Italy’s Intesa Sanpaolo Vita, the UK’s BAE Systems pension fund and Portuguese insurer Fidelidade.
MIDIS said its strategies have raised over $2.3 billion in the past year, while it is thought to have raised almost $6 billion across funds and separate accounts for investment-grade strategies since launching the fund in 2016.