Macquarie Group raises over 8 billion euros for new European infrastructure fund

Australia's Macquarie Group announced on Monday that it has raised more than 8 billion euros ($8.72 billion) for its latest European infrastructure fund. The seventh European Infrastructure Fund garnered support from over 100 investors, including pension funds and sovereign wealth funds, as revealed in a statement. Notably, over 90 per cent of the funds were contributed by existing Macquarie investors.

According to Adam Lygoe, the head of infrastructure for Macquarie Asset Management in Europe, ongoing investment is crucial for developing infrastructure that provides essential services to communities. The fund, which originally aimed to raise between 7 billion and 8 billion euros, surpassed its target, enabling Macquarie to play a role in meeting infrastructure development needs.

Institutional investors are increasingly attracted to infrastructure investments, driven by a surge in demand for logistics and digital infrastructure. Additionally, the anticipation of substantial spending during the global shift away from high-carbon energy further fuels this enthusiasm.

This announcement follows BlackRock's recent agreement to acquire Global Infrastructure Partners, including assets such as Britain's Gatwick Airport and the Port of Melbourne, for $12.5 billion earlier this month.

Macquarie, recognised as the largest infrastructure manager globally, holds approximately 542 billion euros in assets, with around 170 billion dedicated to infrastructure. The seventh fund has already made three investments, including VIRTUS Data Centres and Vienna-headquartered parking provider Best in Parking AG.

(With Reuters Inputs)