Macquarie Infrastructure raises $3 billion to invest in Asia
Investments will be made through its Asian regional infrastructure platform, which includes the Macquarie Asia Infrastructure Fund
Mumbai: Macquarie Infrastructure and Real Assets (MIRA), a part of the asset management arm of Macquarie Group, has raised $3.1 billion to invest in infrastructure companies in Asia, including India.
The investments will be made through its Asian regional infrastructure platform, which includes the Macquarie Asia Infrastructure Fund (MAIF), and specialist investment vehicles. Macquarie started the fund-raising effort for MAIF in 2014, filings with the US securities market regulator Securities and Exchange Commission (SEC) show.
“The Asian region provides a compelling investment environment for institutional investors. Strong fundamentals underpin the growing demand for real assets including infrastructure, such as rapid urbanisation and the push for sustainable development," said Martin Stanley, global head of MIRA.
The MAIF platform will be focused on investment opportunities in transportation, communications, utilities, power, energy and waste management assets across the region. More than $1.3 billion of the platform has already been invested across six portfolio companies in four sectors since its first close.
MIRA managed funds have more than $15 billion of assets under management in Asia-Pacific across the infrastructure, real estate, agriculture and energy sectors, the release said.
MIRA has already made an investment from the Asian infrastructure platform in India. Overall, MIRA made two investments in India in 2015.
In July, Malaysian firm IJM Corp. Bhd entered into a conditional share purchase agreement to sell its stake in Swarna Tollway Pvt. Ltd to MAIF Investments India, an investment vehicle of Macquarie, through its various subsidiaries for a total consideration of ₹ 1,003 crore.
Later in August, MIRA invested ₹ 780 crore in Ind Barath Power Infra Ltd (IBPIL), a Hyderabad-based power producer. IBPIL is a diversified power generator operating both conventional and non-conventional projects. The group has an aggregate operating capacity of 1,065 megawatt (MW) and under construction capacity of 1,160 MW to be commissioned in the near future.
Till 2013, Macquarie invested in India through two infrastructure funds, Macquarie-SBI Infrastructure Fund (MSIF) and SBI-Macquarie Infrastructure Trust (SMIT), joint ventures between State Bank of India, Macquarie and International Finance Corp. MSIF and SMIT have committed capital of approximately $910 million and $260 million, respectively.
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