MIRA closes sixth European infrastructure fund, bringing total funds raised globally to c.€13 billion
London, 19 Jun 2019
- Macquarie European Infrastructure Fund 6 closes at hard cap of €6 billion
- A record period for MIRA with total global fundraising reaching approximately €13 billion in just over a year1, including successful fund closings in Asia and North America
- Continued endorsement of MIRA’s successful regional fund model that connects global capital with local expertise
Macquarie Infrastructure and Real Assets (“MIRA”) today announced the final close of Macquarie European Infrastructure Fund 6 (“MEIF6”) with €6 billion committed – exceeding its initial target of €5 billion.
This brings MIRA’s total global fundraising to approximately €13 billion in just over a year1 following the successful close of MIRA’s other flagship regional funds including Macquarie Asia Infrastructure Fund 2 and Macquarie Infrastructure Partners IV in April and December 2018.
With a total re-up rate of 65 per cent, MEIF6 comprises a combination of existing clients as well as new clients including a number from new jurisdictions. The investor base is made up of pension funds, insurers and sovereign wealth funds. This diverse investor base sees the majority of capital originating from European investors in addition to a significant portion from the Asia-Pacific, demonstrating the growing global demand for alternatives.
Consistent with MIRA’s five predecessor European infrastructure funds, MEIF6 will seek to deploy capital into a long-term portfolio of diversified infrastructure assets which aim to deliver sustainable, predictable and inflation-linked cash flows.
The fund will target a pipeline of European infrastructure assets which occupy a strategic competitive advantage in their respective sectors, including utilities, transportation, communications infrastructure and renewables.
Leigh Harrison, Head of MIRA, EMEA: “We are delighted that our proven track record of raising and successfully deploying capital has enabled us to reach the hard cap for the sixth vintage of our pan-European infrastructure fund series.
Since the launch of our first European fund in 2004 we have paired long-term institutional capital with deep operational expertise to help build stronger and more sustainable infrastructure businesses for the communities in which we operate.
The mix of commitments from both new and returning clients, as well as the geographical diversity of our investor base, demonstrates the strength of this approach and the continued, growing interest from long-term capital to invest in this sector.”
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About Macquarie Infrastructure and Real Assets (MIRA)
Macquarie Infrastructure and Real Assets (MIRA) is one of the world’s leading alternative asset managers. For more than two decades, MIRA has partnered with investors, governments and communities to manage, develop and enhance assets relied on by more than 100 million people each day. As at 31 March 2019, MIRA managed €115 billion in assets that are essential to the sustainable development of economies and communities, including; 155 portfolio businesses, ~600 properties and 4.7 million hectares of farmland.
MIRA is a part of Macquarie Asset Management, the asset management arm of Macquarie Group, a diversified financial group providing clients with asset management and finance, banking, advisory and risk and capital solutions across debt, equity and commodities. Founded in 1969, Macquarie employs 15,700 people.