Macquarie Super Core Infrastructure Fund hits €2.5bn fundraising target

Macquarie Infrastructure & Real Assets (MIRA) has raised €2.5bn for its new infrastructure fund, exceeding its minimum fundraising target by more than 65%.

The manager said Macquarie Super Core Infrastructure Fund (MSCIF) Series 1 received the commitments from global investors at final close exceeding the fund’s initial minimum target of €1.5bn.

Last month, IPE Real Asset reported that US pension fund South Carolina Retirement System plans to make a commitment of €125m into MSCIF. The pension fund said MIRA was looking to raise €2.5bn for the fund, which has a 20-year term with two options to extend by two years.

The manager said MSCIF attracted commitments from a globally diverse group of new and returning investors to the MIRA platform, including public and private pension plans, insurance companies, corporations, and sovereign wealth funds.

Martin Stanley, the global head of MIRA, said: “Our clients continue to recognise the value presented by investing in the infrastructure that underpins the ongoing development of our economies and communities.

“The successful fundraising we’ve achieved for MSCIF reflects the close partnership we’ve built with our investors over a number of years, and we would like to thank them for their ongoing support.”

MIRA said the fund has already committed around 60% of its capital to investments in Cadent Gas in the UK and Elenia in Finland.

Leigh Harrison, the head of MIRA’s EMEA business, said: “Our local teams have already been successful in sourcing attractive opportunities to deploy the capital of our investors, and our asset managers are working closely with those businesses to support further investment in their networks and services for customers.

“MSCIF is supported by a robust pipeline of potential investments and represents a significant opportunity to build on our leadership position in the regulated assets sector”.