Macquarie Asset Management’s European Infrastructure Fund 7 (MEIF7) has raised more than €8 billion ($13.3 billion) as at the fund’s final close in December, two years after initially launching.
Now the industry’s largest fund to focus on European infrastructure, according to Macquarie, MEIF7 surpassed the original target size of €7 billion to €8 billion despite rising interest rates and economic hurdles.
The fund, which is the seventh vintage of Macquarie’s European infrastructure fund series, attracted commitments from more than 100 pension funds, insurance companies, sovereign wealth funds, asset managers, and fund of funds investors.
The asset manager confirmed that the majority (92 per cent) of these commitments came from investors who have previously invested with the firm.
Adam Lygoe, Macquarie head of institutional and international wealth distribution, commented: “Despite an uncertain macroeconomic environment, we have continued to strengthen and broaden our relationships with clients by providing compelling solutions to help meet their investment objectives.”
Martin Bradley, EMEA head of infrastructure, said that continual investment is needed to develop the infrastructure that provides essential services to communities.
“The closing of our seventh European infrastructure fund enables us to play a meaningful role in helping meet that need, as we seek to deliver positive impact across EMEA,” Mr Bradley explained.
“We have a strong pipeline of investment opportunities and have already begun to establish a robust and diverse portfolio with three investments by the fund to date. We look forward to building on this strong foundation as we continue to deploy in the coming years.”
Macquarie said that MEIF7’s final close brings capital managed under the European infrastructure fund series to some €30 billion ($49.7 billion).
The firm more broadly manages approximately €170 billion ($281.7 billion) across its infrastructure, green investments, and natural assets platforms.
In August, Macquarie also raised $435 million for its first dedicated fund to the logistics real estate sector in Europe, which aims to provide investors with exposure to a diversified portfolio of income-generating assets.