Macquarie Infrastructure Debt platform reaches £2.5 billion with final close of UK inflation linked debt fund
London, 13 Jul 2015
Macquarie Infrastructure Debt Investment Solutions (MIDIS) has announced the final close of its UK inflation linked debt fund, attracting total commitments of over £739 million ($US1.16 billion). This brings total awarded mandates for MIDIS’ global infrastructure debt platform – which includes both pooled funds and separately managed accounts - to over £2.5 billion ($US3.9 billion).
MIDIS has deployed over £800 million ($US1.3 billion) into debt investments across 11 infrastructure subsectors. These include fixed, floating and inflation linked debt investments in transport, regulated utilities, social infrastructure, solar photovoltaic (PV), and on-shore wind.
These debt investments include:
- Heathrow Airport to provide £115 million for supporting ongoing operations and capital expenditure;
- Low Carbon to provide £106 million for existing ground-mounted solar PV parks;
- A Shade Greener to provide £155 million for the development of roofmounted solar PV;
- Quercus to provide a £21.5 million refinancing of ground mounted solar PV project in the UK;
- Capital Dynamics to provide a £60 million amortising facility for a portfolio of seven on-shore wind farms in the UK;
- Bristol Airport to provide £45 million as part of a wider debt refinancing process;
- Yorkshire Water Services to provide £50 million of inflation-linked Notes as part of a swap restructure.
MIDIS continues to see a healthy pipeline of potential investments across the power, regulated utilities, social infrastructure and renewable energy sectors, providing its institutional investor clients with attractive assets for matching their long-dated liabilities.
Andrew Robertson, co-head of MIDIS said: “We have seen continuous demand from UK and European investors throughout the fundraising period as well as an increasing interest from investors in other jurisdictions. The speed of development and acceptance from borrowers has been strong and we look forward to exploring further opportunities in UK, Europe and overseas markets”.
James Wilson, co-head of MIDIS said: “The portfolio of investments made to date demonstrates the value and flexibility in our approach to financing the development of assets across a range of sectors. We look forward to continuing to work closely with our long-term partners, deploying the remaining capital across a large and varied pipeline of investments”.
Macquarie Group (Macquarie) is a leading provider of banking, financial, advisory, investment and funds management services. Founded in 1969, Macquarie employs more than 14,000 people in 28 countries. At 31 March 2015, Macquarie had assets under management of £248.2 billion. For more information, visit www.macquarie.com.
About Macquarie Infrastructure Debt Investment Solutions
In early 2012 Macquarie established the Macquarie Infrastructure Debt Investment Solutions (MIDIS) platform to leverage the infrastructure expertise within Macquarie into an investor-aligned global infrastructure debt investment management business. The MIDIS platform has been successful in securing mandates with prestigious insurer and pension scheme clients and has a track record of investing at attractive yields.