Macquarie raises $3.3bn

The Sydney-based asset manager has received support from more than 20 investors for its second Asia-focused infrastructure fund.

Macquarie Infrastructure and Real Assets has closed its second Asia-focused infrastructure fund on its hard-cap of $3.3 billion, creating the region’s largest infrastructure vehicle. More than $1.7 billion of the new vehicle has been committed to toll roads, renewables and petrochemical storage assets in India, the Philippines, Singapore and China.

More than 20 LPs in a mix of returning and new investors across Asia-Pacific, North America, the Middle East and Europe committed to the 10-year closed-ended vehicle. These investors included Alberta Investment Management Corporation and the New Mexico State Investment Council.

MAIF I, which closed on $2.3 billion in early 2016, has been fully deployed across seven countries in Asia-Pacific.