Macquarie Asset Management has raised $6.9bn (€5.8bn) for Macquarie Infrastructure Partners V (MIP V), the manager’s sixth Americas core and core-plus infrastructure fund.

The manager said the amount raised for the MIP V fund at close exceeded the fund’s $5bn target.

The predecessor fund, MIP IV, reached its hard cap of $5bn in January 2019 year, exceeding its $3.5bn target.

As previously reported, the North Dakota State Investment Board intended to approve a $100m commitment to the MIP V fund. New Mexico State Investment Council also approved a $100m commitment to MIP V.

Macquarie said MIP V fund will seek to invest in high-quality infrastructure assets and will be primarily focused on the transportation, communications, waste management, utilities and energy sectors.

Leigh Harrison, the global head of Macquarie Asset Management’s infrastructure and renewables team, said: “We greatly appreciate investors’ strong support for MIP V as part of our broader global infrastructure platform.

“We remain focused on delivering for our investors and ensuring that we manage investments responsibly and sustainably for the benefit of all stakeholders.”

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