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$2bn target exceeded as Macquarie Infrastructure Partners III hits its
$3bn hard cap
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Institutional investors increasingly recognizing benefits of well
managed infrastructure
NEW YORK -- (Business Wire)
Macquarie Infrastructure and Real Assets (MIRA), a division of Macquarie
Group (ASX: MQG; ADR: MQBKY), today announced the final close of
Macquarie Infrastructure Partners III (MIP III) after reaching its $3
billion hard cap. MIP III is MIRA’s fourth unlisted infrastructure fund
in North America, and follows the Macquarie Essential Assets Partnership
in 2004, MIP I in 2007 and MIP II in 2010.
With the closing of MIP III, MIRA has raised $11 billion worldwide over
the last two years – including a fourth European infrastructure fund
that closed with $3.5 billion in commitments in 2013 - consolidating its
position as the world’s largest infrastructure asset manager and a
leading alternative asset manager. MIRA managed funds have more than $50
billion of equity under management in infrastructure, real estate,
agriculture and energy.
“Increasingly, institutional investors recognize the important role that
infrastructure investment can play in their asset portfolios. However,
investing in infrastructure requires a specialized, patient and
responsible approach which demands careful selection of managers,” said
Martin Stanley, Global Head of MIRA. “MIRA has 20 years’ experience, an
established track record and a firm focus on the needs of our investors
and we are indebted to our institutional investors around the world for
their continued support.”
MIP III successfully attracted commitments from a globally diverse group
of returning and new investors including US and European public and
private pension plans, insurance companies, corporations, endowments,
foundations, and sovereign wealth funds. MIP III will seek investment
opportunities in transportation, communications, utilities, power,
energy, and waste management assets.
“The North American private infrastructure landscape has continued to
evolve since the days of our first North American fund over 10 years
ago,” said Christopher Leslie, CEO of Macquarie Infrastructure Partners.
“We are pleased with the number and quality of investment opportunities
we are seeing across the United States and Canada. The U.S. market, in
particular, requires significant investment to upgrade and expand its
infrastructure and there is a real opportunity for private investors to
help meet that need. We remain committed to investing in the region and
believe that our proven track record and long history make us a partner
of choice.”
MIP III has committed over $500 million of the fund to investments,
including the Goethals Bridge Replacement Project in New York Harbor.
MIRA has been investing in North American infrastructure since 2001 and
has committed more than $17.3 billion of equity in over 57
infrastructure assets in the region.
About Macquarie Group
Macquarie Group (Macquarie) is a global provider of banking, financial,
advisory, investment and funds management services acting on behalf of
institutional, corporate and retail clients and counterparties around
the world. Founded in 1969, Macquarie operates in more than 70 office
locations in 28 countries. Macquarie employs approximately 13,900 people
and has assets under management of over US$396 billion (as of March 31,
2014).
Macquarie Infrastructure and Real Assets (MIRA), a division of
Macquarie, is the world’s largest infrastructure asset manager with
growing portfolios in real estate, agriculture and energy. MIRA manages
US$105 billion of assets under management across 27 countries (as of
June 30, 2014).
Contacts:
For media queries:
Macquarie Group
Paula Chirhart, +1
212-231-1239
Corporate Communications
paula.chirhart@macquarie.com
Source: Macquarie Group
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