Macquarie Infrastructure and Real Assets (MIRA) has announced the first and final closeof its latest infrastructure fund, Macquarie European Infrastructure Fund 5 (MEIF5). The fund closed with €4 billion of investor commitments within eight months of its launch and was significantly oversubscribed.
The €4 billion (US$US4.5 billion) committed to MEIF5 takes MIRA global fund raising to $US29 billion in the past five years, including a North American infrastructure fund and a Pan-Asian infrastructure fund, both of which were oversubscribed and are now substantially committed.
In late August, we reported that South Korea’s Military Mutual Aid Association (MMAA) and South Korea’s National Pension Service (NPS) invested respectively €40 million (US$44.7 million) and €250 million (US$282 million) in Macquarie European Infrastructure Fund 5 (MEIF5).
Other South Korean institutional investors including the Yellow Umbrella Mutual Aid also plan to participate in the fund.
The investment strategy for MEIF5 is consistent with MIRA’s predecessor European infrastructure funds, focused on investment opportunities in utilities, transportation, communications infrastructure and renewable energy throughout the region. MEIF5’s investment capacity will also be supported by significant limited partner co-investment commitments.
Martin Stanley, Global Head of MIRA, said:
"A first and final close of MEIF5 shows the continued commitment of our clients to our disciplined, long-term approach to infrastructure investment. We’d like to thank returning and new investors for their support for and trust in MIRA’s platform, team and our approach to managing their investments.”
“MIRA has successfully deployed capital in a highly competitive market, focusing on proprietary opportunities, often seeing opportunity in more complex situations. The new fund has a well developed pipeline of prospective investments and expects to commence deployment of capital in the near term.”