Macquarie closes Asia infra fund at $3.3b
Australia’s Macquarie Infrastructure and Real Assets (MIRA) has achieved a final close for its second Asia-focused infrastructure fund at the hard cap of $3.3 billion.
It follows a $300 million cornerstone commitment last year from Alberta Investment Management Corporation, which represented the Canadian investor’s first deployment in the region. Additional contributions were made by returning and new MIRA backers across Asia Pacific, North America, Europe, and the Middle East.
Macquarie Asia Infrastructure Fund II (MAIF II) has already committed $1.7 billion across toll roads, renewables, and petrochemical storage assets in India, the Philippines, Singapore, and China. Its successor, MAIF I, closed at $2.3 billion in early 2016 with a $200 million contribution from Korea’s National Pension Service and is now fully deployed across seven countries in the region.
"The Asian infrastructure market is maturing and continues to provide attractive investment opportunities across diverse sectors,” David Luboff, CEO of MAIF Fund Series, said in a statement. “The fund’s regional mandate allows us to capitalize on these opportunities across geographies, thereby optimizing the overall risk-return position.”
MIRA claims to be the world's largest infrastructure manager with more than $111 billion invested in 138 portfolio businesses and about 300 properties as of the end of 2017. It has raised $24 billion globally over the past two years. Asian operations began in 1994 and now encompass some $21 billion of assets under management, including more than 50 infrastructure projects.
More on Australasia
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.