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Macquarie raises $3.3 bn for second Asian infrastructure fund

03 April, 2018

Australia’s Macquarie Group Ltd said on Tuesday its Macquarie Infrastructure and Real Assets (MIRA) division has closed its second Asian regional infrastructure fund at the hard cap of $3.3 billion in investor commitments.

This brings the division’s global fundraising to $24 billion over the past two years, Macquarie said in a statement.

The new Macquarie Asia Infrastructure Fund 2 (MAIF 2) has already committed over $1.7 billion of capital across toll roads, renewables and petrochemical storage assets in India, the Philippines, Singapore and China.

The fund attracted commitments from “a diverse group of returning and new investors” across Asia-Pacific, North America, the Middle East and Europe, the statement said.

The firm’s first Asian infrastructure fund had closed in early 2016, and is now fully deployed across seven countries in Asia-Pacific, it said.

In India, Macquarie Infrastructure has invested in Adhunik Power and Natural Resources Ltd, Ashoka Buildcon Ltd subsidiary Ashoka Concessions, GMR Airports Ltd, Soham Renewable Energy India Pvt. Ltd, ATC India unit Viom Networks, Ind-Barath Energy Utkal Ltd and highway project developer Gujarat Roads and Infrastructure Corp.

Last month, Macquarie won the auction for nine toll-based highways under the toll-operate-transfer model for Rs 9,681 crore (around $1.5 billion) from the National Highways Authority of India.

“The Asian infrastructure market is maturing and continues to provide attractive investment opportunities across diverse sectors. The (new) fund’s regional mandate allows us to capitalise on these opportunities across geographies, thereby optimising the overall risk-return position,” said David Luboff, chief executive of MAIF Fund Series.

Macquarie Infrastructure has been investing in Asian infrastructure companies since 1994 and manages over 50 infrastructure assets. Its managed funds have more than $21 billion of assets in Asia-Pacific across the infrastructure, real estate, agriculture and energy sectors.

As of 31 December 2017, Macquarie Infrastructure had assets under management of more than $111 billion invested in 138 portfolio businesses, about 300 properties and 4.5 million hectares of farmland.

Macquarie Infrastructure is a division of Macquarie Asset Management, which is part of Macquarie Group, a diversified financial group that provides asset management, banking, advisory and risk capital services across debt, equity and commodities.

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Macquarie raises $3.3 bn for second Asian infrastructure fund

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