Macquarie’s infrastructure business closes MIP III at hard cap


Macquarie Group‘s Macquarie Infrastructure and Real Assets (MIRA) has reached a final close of Macquarie Infrastructure Partners III on its $3 billion hard cap. The fund exceeded its $2 billion target.

MIP III is MIRA’s fourth unlisted infrastructure fund in North America, and follows the Macquarie Essential Assets Partnership in 2004, MIP I in 2007 and MIP II in 2010. The fund will seek investment opportunities in transportation, communications, utilities, power, energy and waste management assets.

MIP III has already committed more than $500 million of the fund, including to the Goethals Bridge Replacement Project in New York Harbor. MIRA has been investing in North American infrastructure since 2001 and has committed more than $17.3 billion of equity in more than 57 infrastructure assets in the region.

MIRA has raised $11 billion worldwide over the last two years including a fourth European infrastructure fund that closed with $3.5 billion in commitments in 2013. MIRA managed funds have more than $50 billion of equity under management in infrastructure, real estate, agriculture and energy.

Image courtesy of Shutterstock

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