Macquarie Asset Management closed its latest infrastructure fund, Macquarie Infrastructure Partners V, at $6.9 billion, exceeding its $5 billion fundraising target, according to a news release.
“We saw a strong re-up rate as well as new investors,” said Karl Kuchel, CEO of Macquarie Infrastructure Partners, in an email. “MIP V has a clear strategy ... is diversified, has a U.S. focus and an experienced team that has successfully executed this strategy over many vintages and economic cycles.”
The fund is 38% larger than its predecessor, Macquarie Infrastructure Partners IV, which closed with $5 billion in 2019.
The fund primarily invests in high quality assets in the transportation, communications, waste management, utilities and energy sectors.
Investors in the fund include the $33.2 billion New Mexico State Investment Council, Santa Fe; $15.3 billion Arkansas Teacher Retirement System, Little Rock; and $12.8 billion Chicago Public School Teachers' Pension and Retirement Fund.