Macquarie Infrastructure and Real Assets (MIRA) has raised $3.1 billion for Asian infrastructure through its regional fund and several specialist vehicles.
The fundraise includes the Macquarie Asia Infrastructure Fund (MAIF), which hit its $2.3 billion hard-cap in the close, and specialist investment vehicles. The latter are backed by a diverse group of returning and new investors across Asia Pacific, North America and Europe.
Macquarie declined to name its investors, but Infrastructure Investor has learnt that US pension New Mexico State Investment Council and Dutch pension manager PGGM are among returning limited partners for the firm's latest vehicle.
The Australian manager has already invested more than $1.3 billion across six portfolio companies in four sectors, since MAIF’s first $1.1 billion close in October 2014. The fund targets transportation, communications, utilities, power, energy and waste management assets.
In addition, MAIF is also present in investment-grade countries in Asia, including Greater China, India, South Korea, Australia and New Zealand.
“The Asian region provides a compelling investment environment for institutional investors. Strong fundamentals underpin the growing demand for real assets including infrastructure, such as rapid urbanisation and the push for sustainable development,” Martin Stanley, global head of MIRA, said in a statement.
Sydney-based MIRA has been investing in Asian infrastructure since 1994, where it currently manages over 50 infrastructure assets. Across Asia-Pacific, MIRA-managed funds have more than $10 billion of infrastructure assets under management and another $5 billion in real estate, agriculture and energy.
Globally, MIRA manages $101 billion of assets on behalf of institutional clients across 45 funds in more than 120 businesses, as at 31 December 2015.