Australia’s Macquarie Asset Management has closed its Super Core Infrastructure Fund at 12.6 billion euros ($13 billion) to invest in European infrastructure assets.
The firm said in a statement that it has raised the capital from 70 limited partners including pension funds, insurers, sovereign wealth funds, asset managers, banks, and family offices across 22 countries.
Super Core Infrastructure Fund is a long-term, yield-focused strategy, which targets investments in core, regulated, network infrastructure, enabling investors to gain exposure to predictable, inflation-protected income streams while supporting the operation and upgrade of essential community infrastructure.
It has already made seven investments, including electricity and gas transmission and distribution network operators and a water and wastewater utility in Finland, Germany, Greece, Spain, and the UK.
“Network infrastructure underpins our daily lives and will play a central role in the transition to net zero as the electrification of the economy and shift to clean energy accelerates,” said Martin Bradley, head of Macquarie Asset Management’s real assets team in EMEA.
“This latest fundraise underlines the growing value placed on infrastructure during portfolio construction, given the historically strong performance of the asset class through economic cycles and its potential to align with sustainability objectives,” added Ben Way, group head of Macquarie Asset Management.
The infrastructure investor had raised $15.9 billion across its private markets business during the half-year ended 30 September 2022.
In May, the firm reached a final close of its third Asia Pacific infrastructure fund at over $4.2 billion, exceeding a target of $3 billion.
By then, the Asia Pacific vehicle has invested in several assets such as Bohao Internet Data Services and Metcold Supply Networks in China, Summit Energy Alliance Limited in South Korea, Bersama Digital Infrastructure in Indonesia, Vocus Group and Bingo Industries in Australia and 2degrees in New Zealand.
Macquarie Asset Management had A$795.6 billion ($532.5 billion) in assets under management by the end of September 2022.