Macquarie launches mutual fund for infrastructure

Three weeks after closing its acquisition of asset management firm Delaware Investments, Macquarie Group has launched its first joint investment product with Delaware: a mutual fund for infrastructure.

The Delaware Macquarie Global Infrastructure Fund will invest globally in securities issued by companies that own and operate infrastructure assets, with the exception of Macquarie-managed entities such as New York Stock Exchange-listed Macquarie Infrastructure Company.

It is the first joint investment product Macquarie has launched with Delaware since it acquired the Philadelphia-based asset management from Lincoln Financial in a $452 million cash deal. The deal added $130 billion to Macquarie’s total assets under management, which stands at $319 billion across all its investment platforms.

Macquarie has previously launched two similar investment products for infrastructure in the US, the New York Stock Exchange-listed Macquarie Global Infrastructure Total Return Fund and the Macquarie/First Trust Global Infrastructure/Utilities Dividend & Income Fund.

Macquarie Funds Group, the asset management arm of Macquarie Group, will be responsible for the management of the Delaware Macquarie Global Infrastructure Fund’s assets.