Macquarie Infrastructure and Real Assets (MIRA), part of Macquarie Group, has completed a $625 million first and final close of the Philippine Investment Alliance for Infrastructure (PINAI), a fund dedicated to investment in the Philippines.

The $53.1 billion Virginia Retirement System (VRS) has made two commitments to infrastructure totaling $450 million.

On July 27 U.S. Transportation Secretary Ray LaHood announced the availability of more than $16 billion in Transportation Infrastructure Finance and Innovation Act (TIFIA) credit assistance for critical infrastructure projects across the country as a result of the recently enacted surface transportation bill — MAP-21.

Each year, the Urban Land Institute (ULI) and Ernst & Young publish an analysis of global infrastructure markets. This year’s report — Infrastructure 2012: Spotlight on Leadership— focuses on the people and organizations that are using innovative approaches to solve infrastructure problems.

It is tough to blame investors for being disillusioned with fund managers and the business models to date for infrastructure investing.