Macquarie gets USD 300m commitment for second Asia fund

17 August 2017 - 12:00 am UTC

AIMco has made a USD 300m commitment to Macquarie Asia Infrastructure Fund 2 LP, according to an announcement by law firm Ashurst today.

This marks Alberta Investment Management Corporation’s (AIMco) first commitment to Asian infrastructure. Other Canada-based institutional investors have recently increased the amount of funds they are seeking to invest in the region’s infrastructure – both directly and indirectly through funds – as reported.

Ashurst’s Asia head of private investment funds, Dean Moroz, told Inframation that AIMco has yet to establish a presence in the region, so had chosen to invest through a “trusted partner” such as Macquarie. He added that “AIMco are one,” of the cornerstone investors. He described the size of the commitment as “not unusual”.

Being a cornerstone investor, with a significant capital commitment, means the investor was able to negotiate favourable investment terms, according to the Ashurst release.

Moroz declined to comment on the investment terms.

A spokesperson for Macquarie declined to comment and said she could not comment on the fundraising timeline for MAIF 2.

Inframation reported in May that fundraising for MAIF 2 could be achieved in as little as six months.

On 3 August, a consortium 60% held by MIRA funds including MAIF made a tender offer to invest up to USD 1.3bn in Philippine geothermal firm Energy Development Corp. The offer runs until 18 September. The Macquarie spokesperson declined to confirm that the asset would seed MAIF 2.