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New York Life Investments and CBRE Investment Management launch global infrastructure megatrends fund
Investors - OCTOBER 28, 2021

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New York Life Investments and CBRE Investment Management launch global infrastructure megatrends fund

by Kali Persall

​​New York Life Investments and CBRE Investment Management have launched a third fund as part of a strategic partnership, the MainStay CBRE Global Infrastructure Megatrends Fund.

The MainStay CBRE Global Infrastructure Megatrends Fund is a nondiversified, closed-end vehicle that invests primarily in income-producing equity securities issued by infrastructure companies.

New York Life serves as fund manager, and CBRE Investment Management Listed Real Assets serves as the subadviser. CBRE Investment Management is actively managing the portfolio with a focus on three infrastructure megatrends that are believed to be accelerating globally: decarbonization, digital transformation and asset modernization.

The companies said the fund raised $1 million in its common share offering with Morgan Stanley, BoA Securities, Raymond James and Wells Fargo acting as lead underwriters.

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