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MIRA closes infrastructure fund at $5 billion

Macquarie Infrastructure and Real Assets closed Macquarie Infrastructure Partners IV at its $5 billion hard cap, said Melissa McNamara, senior vice president and Macquarie Group spokeswoman, in an email.

The latest fund closed by the division of Macquarie Group is 67% larger than Macquarie Infrastructure Partners III, which closed at its $3 billion hard cap in 2014.

The fund mainly invests in high-quality investments across the transportation, communications, energy and waste infrastructure sectors.

Investors in the latest fund include the $24.6 billion New Mexico State Investment Council, Santa Fe, and $13.7 billion North Dakota State Investment Board, Bismarck.