Guernsey firms Carey Olsen and Alter Domus have assisted Macquarie Infrastructure and Real Assets (MIRA) on the launch of its latest European infrastructure fund, Macquarie European Infrastructure Fund 5 (MEIF5).
The fund closed with €4 billion of investor commitments within eight months of its launch and was significantly oversubscribed.
The €4 billion committed to MEIF5 makes it the largest private infrastructure fund raised in Europe in 2016 and takes MIRA global fund raising to US$29 billion in the past five years, including a North American infrastructure fund and a Pan-Asian infrastructure fund, both of which were also oversubscribed. MEIF5 will focus on investment opportunities throughout Europe in transportation, communications and utilities infrastructure as well as renewable energy.
The Carey Olsen team, led by Partner David Crosland, included Senior Associate Jan Johannsson and Associate Colin Calvert. Alter Domus has been appointed as administrator and depositary of the new fund.
Mr Crosland said: "This was a stellar fundraise by Macquarie, testament to their status as a global leader in infrastructure investing. It was also the latest in a series of successful large-cap fund launches handled by our Guernsey funds team in 2016."
James Brasher, Group Head of Segments and Products for Alter Domus, said: "Alter Domus is yet again delighted to have been selected by Macquarie to service their latest European Infrastructure Fund. The engagement of Alter Domus continues to demonstrate the strength of our relationship with Macquarie and further enhances Alter Domus' position as a leading provider of administration, accounting and secretarial services to Alternative Investments Funds in the Channel Islands and in Europe."
Carey Olsen and Alter Domus previously assisted Macquarie on the launch of their debut Macquarie Infrastructure Debt Investment Solutions UK inflation linked infrastructure debt fund, which attracted total commitments of £829 million.
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