Alberta Investment Management Corp. made a "cornerstone" commitment of $300 million to Macquarie Asia Infrastructure Fund 2, according to an announcement Thursday by Ashurst, the London-headquartered law firm representing the Edmonton-based manager of C$95.7 billion ($75.7 billion) in pension, endowment and government fund assets on the transaction.
Dean Moroz, Ashurst's Hong Kong-based head of private investment funds for Asia, in a news release said Ashurst was "pleased to have represented AIMCo … on their inaugural commitment to infrastructure investing in Asia through this Macquarie sponsored and managed fund."
The news release said AIMCo's commitment "underscores both the current trend in the market toward very large fundraisings getting off successfully and the advantage that being a cornerstone investor, with a significant capital commitment, brings to being able to negotiate favorable investment terms."
A spokeswoman for Ashurst declined to discuss the terms of the deal.
AIMCo spokesman Denes Nemeth and Macquarie spokeswoman Laura Bramwell separately declined to confirm AIMCo's commitment to the Asia infrastructure fund or provide further details about the fund.
In early 2016, Macquarie announced the closing of its first infrastructure fund for the region, Macquarie Asia Infrastructure Fund, at $2.3 billion.