GCM Grosvenor has raised $1.3bn (€1.1bn) for its second North American infrastructure fund.
GCM Grosvenor said Infrastructure Advantage Fund II (IAF II) attracted 58 investors from the US and Canada, exceeding the $893m raised for its predecessor, IAF I in 2020.
The fund will partner with organised labour and other stakeholders to invest in infrastructure projects that provide long-term community and economic benefits, including transportation, energy-transition and digital infrastructure assets.
Michael Sacks, chairman and CEO at GCM Grosvenor, said: “We are grateful for the continued confidence of our investors, who share our vision of effectively deploying infrastructure capital in the US and Canada. We look forward to building on the success of Fund I and delivering value to our IAF II investors.”
Launched in 2018, GCM Grosvenor’s infrastructure advantage strategy manages nearly $2.5bn in assets, and through its investments.
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