Fundraising - JULY 13, 2015

Macquarie raises £739m for infrastructure debt fund

by Zoë Wolff

Macquarie Infrastructure Debt Investment Solutions has held a final close with total equity of £739 million ($1.16 million) for its U.K. inflation-linked debt fund. This fund brings MIDIS’s global infrastructure debt platform — which includes commingled funds and separate accounts — to more than £2.5 billion ($3.9 billion).

MIDIS has invested more than £800 million ($1.3 billion) in fixed-rate, floating-rate and inflation-linked debt across 11 infrastructure subsectors, including transportation, regulated utilities, social infrastructure, solar photovoltaic projects and onshore wind.

“The portfolio of investments made to date demonstrates the value and flexibility in our approach to financing the development of assets across a range of sectors,” said James Wilson, co-head of MIDIS, in a statement.

These investments include £115 million ($126.8 million) to Heathrow Airport for supporting ongoing operations and capital expenditure; £106 million ($116.9 million) to Low Carbon for existing ground-mounted solar photovoltaic parks; £155 million ($170.9 million) to A Shade Greener for the development of roof-mounted solar photovoltaic projects; £21.5 million ($23.7 million) to Quercus for the refinancing of a ground-mounted solar photovoltaic project in the UK; £60 million ($66.2 million) to Capital Dynamics for a portfolio of seven onshore wind farms in the United Kingdom; £45 million ($49.62 million) to Bristol Airport as part of a debt refinancing process; and £50 million ($55.14 million) of inflation-linked notes to Yorkshire Water Services as part of a swap restructure.

“We look forward to continuing to work closely with our long-term partners, deploying the remaining capital across a large and varied pipeline of investments,” Wilson added.

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