Insurer Mapfre in partnership with Abante is investing an initial €50m to launch a €200m global infrastructure fund with Macquarie.
The Mapfre Infraestructuras fund, managed by Abante, will invest in funds run by Macquarie Infrastructure and Real Assets (MIRA).
Mapfre will be the principal investor in the newly-launched fund, which is expected to raise further capital from other institutional investors and private banking clients.
Mapfre and Abante will work together with MIRA in the selection of investments within the portfolio of strategies that the Australian manager currently has in place. Mapfre and Abante will be able to serve on the Macquarie funds oversight committees.
José Luis Jiménez, Mapfre’s CIO, said: “Certain structural changes anticipate a need for investment in infrastructure that is highly relevant and has global reach in the coming years.
“We want to take advantage of the opportunity to participate in this sector with one of the world leaders and to do so in a socially responsible fashion.”
In September last year, asset manager Abante and Mapfre formed a strategic alliance to create an independent platform for financial advice and product distribution in the Spanish market.
Joaquín Casasús, CEO of Abante Asesores Gestión, said: “Mapfre Infraestructuras offers a unique opportunity for the institutional investor, who will be able to access a very interesting asset class with predictable cash flow and which has a low correlation with other listed assets.
“And it will do so with the world’s leading player in a sector that requires high levels of specialisation.”
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