Macquarie Asset Management has raised €1.2bn (£1bn) by the final close of its first dedicated European infrastructure debt fund.
An additional €2.3bn was raised from separately managed accounts.
The Macquarie European Infrastructure Debt Fund (MEID) was designed for insurance companies and pension fund investors.
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The asset manager said that it was launched in response to demand from insurance companies for a pooled fund vehicle that would invest in high-quality infrastructure debt assets aligned to Solvency II regulations.
MEID has a portfolio of 24 European infrastructure debt investments and is over 80 per cent deployed at final closing.
The investments span across renewables, digital, transportation and other energy assets.
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“We are extremely proud to announce the close of our first European Infrastructure Debt Fund,” said Tom van Rijsewijk, head of infrastructure and investment grade private credit EMEA at Macquarie Asset Management.
“Recent market volatility has highlighted the need from institutional investors for diversified portfolios that can provide long-term stable returns, and experienced managers with deep knowledge of this asset class. We are thankful for the confidence investors have placed in us.”
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Macquarie Asset Management’s credit and insurance platform manages over €200bn of capital across liquid credit, private credit and insurance.
The firm has deployed €12.5bn in infrastructure debt to date.
