Fundraising - JULY 10, 2014

McMorgan raises $1.3b for first infrastructure fund

by Reg Clodfelter

San Francisco–based McMorgan & Co. has now raised $1.33 billion for McMorgan Infrastructure Fund I, according to a filing with the SEC. The fund is a feeder vehicle into the Global Strategic Investment Alliance, a $10 billion consortium of investors led by a $5 billion commitment from the Ontario Municipal Employees Retirement System.

As a GSIA member, the fund will look to generate significant, long-term, distributable cash flows investing in large, mature infrastructure assets managed by Borealis Infrastructure, the infrastructure investment arm of OMERS. Investments will be focused on North American and Western European markets, and gross returns are expected to be in the range of 9 percent to 12 percent.

Institutional investors in the fund include the Hawaii Employees’ Retirement System, which committed $50 million to the fund in January.

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