Investors - APRIL 19, 2017

New Mexico considers investment in Macquarie fund

by Jody Barhanovich

The $20 billion New Mexico State Investment Council is considering an investment in Macquarie Infrastructure Partners IV, according to a board–meeting document.

The document did not disclose the total commitment amount; however, news sources have the amount pegged at $100 million. The commitment is pending a final approval at NMSIC’s next meeting on April 25.

Macquarie Infrastructure Partners IV, which recently launched in March 2017, will invest in diversified infrastructure assets throughout North America.
The fund’s predecessor, Macquarie Infrastructure Partners III, held a $3 billion final close in 2014, exceeding its $2 billion equity fundraising target. The fund invests in opportunities in transportation, communications, utilities, power, energy and waste management assets.

Fund III previously acquired a 42.5 percent equity interest in InSite Wireless Group, a company that develops, owns, operates and manages wireless communications infrastructure facilities primarily for the wireless and broadcast industries, from Catalyst Investors II and other minority investors. The transaction was part of an approximate $280 million initial investment.

New Mexico previously has committed to other infrastructure funds managed by Macquarie, including a $100 million commitment to Macquarie Asia Infrastructure Fund through two separate allocations. The first was a $60 million commitment in 2014, followed by a $40 million commitment in 2015.

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