Macquarie discloses fees for Mexican infra fund

The fund will charge fees similar to other Macquarie infrastructure funds in Europe and the US. Macquarie also said it has recently raised A$1.7bn of equity for its unlisted funds.

Macquarie Group has disclosed the fee structure for its new Mexican Infrastructure Fund, which was formally launched in January and is targeting Ps. 15 billion ($1.1 billion; €750 million) in total commitments.

The Macquarie Mexican Infrastructure Fund will charge investors 1.5 percent on commitments and a performance fee of 20 percent on fund returns, subject to an 8 percent hurdle return.

The fee structure parallels other fee structures Macquarie employs for its infrastructure funds. Macquarie Infrastructure Partners II, Macquarie’s US-based unlisted infrastructure fund, and Macquarie European Infrastructure Fund III, Macquarie’s European  unlisted infrastructure fund, also have 1.5- and 20-percent fee structures, according to information previously provided to InfrastructureInvestor.

The fee structure for the 10-year fund was disclosed in a company presentation by Michael Carapiet, the global head of Macquarie Capital, Macquarie’s investment banking division.

Macquarie Capital is the manager of the Mexican fund, which has raised Ps. 5.2 billion so far, according to Carapiet’s presentation.

Overall, Macquarie Capital raised A$1.7 billion (€1.1 billion; $1.5 billion) in equity for its unlisted funds in the first six months of its 2010 financial year ending 31 March 2010, according to a footnote in Carapiet's presentation.

The firm is also “considering opportunities to acquire fund management platforms”, according to the presentation.