Macquarie Infrastructure Debt Investment Solutions (MIDIS) has raised €1.2bn to invest in sub-investment grade infrastructure debt.
The Macquarie Infrastructure Debt Sub-Investment Grade Fund exceeded its €500m target to raised €730m, the manager said, adding that it also raised an additional €425m through separately managed accounts and for co-investments to invest alongside the fund.
The fund raked in capital from new and existing investors including 21 pension funds and insurers from the UK, Korea, Japan, Italy, and Portugal, MIDIS said.
The strategy is currently invested across the utilities, energy, renewables, and transport infrastructure sectors. The strategy’s portfolio is comprised of debt investments in 14 borrowers in the UK, US, Italy, Finland, and the Netherlands with an average internal rating of BB-, the manager said.
Tim Humphrey, co-head of MIDIS, said; “We would like to thank all our returning and new investors for the confidence they have shown in our ability to navigate the current investment landscape.
“We have been delighted by the support we have received for our sub-investment grade strategy and look forward to deploying the remainder of the fund’s capital in high-quality assets supporting the sustainable development of communities and economies.”
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