AUSTRALIA - The Macquarie Bank Group has raised more than US$10bn from major pension funds by shutting two new infrastructure funds.
Institutional investors from around the world also helped generate the money.
The closed funds include the Macquarie European Infrastructure Fund II (MEIF II), and the Macquarie Infrastructure Partners (MIP).
To date, the portfolios have committed to invest a total of $4.5bn or 44% of funds raised, in 13 assets across sectors including toll roads, ports, utilities and telecommunication infrastructure.
Christopher Leslie, chief executive officer of MIP, said its long term investment horizon was fundamental to its approach and well-suited to the important nature of the infrastructure business.
MEIF II, which confirmed commitments of $6.3bn will invest in a diversified portfolio of eight to 15 infrastructure assets located across the European Union.
Meanwhile, MIP, a $4bn fund, will invest in infrastructure and infrastructure-like assets in North America.
Global Pensions revealed last month how infrastructure experts had warned pension funds about investing in the asset class without first doing their homework.
At the time, Charlie Metcalfe, chief executive at First State Investments, said buying infrastructure through private equity funds meant a real mismatch.
Standard Life has increased exposure to risk assets in three out of five funds in its Active Plus and Passive Plus workplace pension ranges.
Some 48% of employers are unaware of the services or help they offer to members of their defined contribution (DC) schemes, according to Aon.
Welplan Pensions has triggered its exit from the master trust market, with just a few days to go until The Pensions Regulator's (TPR) application deadline.