Macquarie’s infrastructure debt platform has raised £2.7bn (€2.95bn) in commitments from predominantly UK corporate pension funds, local authority pension schemes and insurance companies in the manager’s latest round of fundraising for its UK infrastructure debt strategy.
More than £220m of the £2.7bn was raised via the manager’s second UK-focused pooled fund targeting investments in inflation-linked debt in essential UK infrastructure businesses.
A further £2.5bn of commitments was raised to invest alongside the fund through separately managed accounts.
Tim Humphrey, co-head of Macquarie Infrastructure Debt Investment Solutions (MIDIS), said: “As we emerge from the COVID-19 pandemic, investment in infrastructure and green energy will form a key part of the UK’s economic recovery.
“By mobilising UK institutional capital to invest in local infrastructure, we are helping essential infrastructure businesses meet the current and future needs of the communities they serve.”
Since MIDIS was established in 2012, it has provided £4.8bn of capital to invest in the build-out of UK infrastructure, across 70 investments.
It said many maturing defined benefit pension schemes and insurance companies have increased their exposure to inflation-linked infrastructure debt seeking to better match their inflation-linked liabilities. Investors had also been attracted to the prospect of higher returns than those offered by other assets with inflation protection and the lower risk profile of the asset class when compared to corporate debt.
Earlier this year MIDIS announced it had raised $645m (€598m) for its global debt fund, with capital commitments coming from pension funds and insurance companies from the UK, Netherlands, Italy, Japan, Singapore and Portugal.
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