MIRA announces first and final close on fifth European infrastructure fund at €4 billion
London, 08 Sep 2016
Macquarie Infrastructure and Real Assets (MIRA) today announced the first and final close of 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.
"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,” said Martin Stanley, Global Head of MIRA.
The €4 billion ($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. Over this period, MIRA has returned more than $US21 billion in capital and distributions to investors in its funds around the world.
“MIRA has successfully deployed capital in a highly competitive market, focusing on proprietary opportunities, often seeing opportunity in more complex situations. The new fund has a well developed pipeline of prospective investments and expects to commence deployment of capital in the near term,” added Mr Stanley.
The investment strategy for MEIF5 is consistent with that deployed successfully for MIRA’s predecessor European infrastructure funds, focused on investment opportunities in utilities, transportation, communications infrastructure and renewable energy throughout the region. MEIF5’s investment capacity will also be supported by significant limited partner co-investment commitments.
MIRA currently manages 130 portfolio businesses globally, with €92 billion ($US104 billion) of assets under management*.
Macquarie Group (Macquarie) is a global provider of banking, financial, advisory, investment and funds management services. Founded in 1969, Macquarie operates in 64 office locations in 28 countries and employs more than 14,300 people. Assets under management total approximately €322 billion at 31 March 2016*.
About Macquarie Infrastructure and Real Assets (MIRA)
MIRA is part of Macquarie Asset Management, the asset management arm of Macquarie. MIRA pioneered Infrastructure as a new asset class for institutional investors. For more than 20 years we have been investing in and managing the assets that people use every day - extending beyond Infrastructure to Real Estate, Agriculture and Energy.
Our dedicated operational and financial experts work where MIRA’s funds invest and their portfolio companies operate. They are part of a far reaching global team which helps clients to see across the regions and deep into local markets.
MIRA has assets under management of €92 billion invested in 130 portfolio businesses, ~300 properties and 2.8m hectares of farmland*.
*figures as at 31 March 2016