Macquarie Asset Management raises $4.2 billion for Asia-Pacific fund
2022.05.31 05:36
FILE PHOTO: The logo of Australia’s biggest investment bank Macquarie Group Ltd adorns a desk in the reception area of its Sydney office headquarters in Australia, Oct. 28, 2016. REUTERS/David Gray/File Photo
(Reuters) – Macquarie Asset Management, a part of Australia’s Macquarie Group (OTC:MQBKY) Ltd, said on Tuesday it had raised $4.2 billion for its third fund dedicated towards Asia-Pacific regional infrastructure, much beyond its $3 billion target.
The fund, which was launched in 2020, received the commitments from a diverse range of returning and new institutional investors, including pension funds, insurance companies and sovereign wealth funds, Macquarie said.
“The infrastructure markets across Asia-Pacific have been maturing at a particularly fast rate, and our clients continue to value the investment merits brought by infrastructure,” said Frank Kwok, head of Macquarie Asset Management’s real assets business in Asia-Pacific.
The latest fundraise brings the total capital managed dedicated to investing in Asia-Pacific infrastructure to over $15 billion, of which more than $2.4 billion has already been successfully committed across seven locally-sourced investments, with an additional $3.0 billion in co-investments.
“The positive long-term outlook for the region will continue to drive demand for high-quality infrastructure,” said Verena Lim, head of Investments for the Macquarie Asia-Pacific Infrastructure Fund series.
Last year, Macquarie’s asset management unit had raised $6.9 billion for its fund dedicated to investing in North American infrastructure as U.S. lawmakers negotiated a plan to spend $1.2 trillion over five years on public works projects.
