The fund, which is targeting up to $2bn, received a $250m commitment from the Pennsylvania Public School Employees' Retirement System earlier this year.
Managing director Peter Johnston says the first close was backed by traditional real estate investors looking for an alternative to residential property.
The closing of MAIF3, the largest pan-Asia infrastructure fund raised to date, represents a maturing of the asset manager’s regional strategy, putting it on a par with its European and North American fund series, its team tells us.