Macquarie Asset Management announced Monday that the firm has raised $711 million for its inaugural infrastructure secondaries fund, Macquarie Alliance Partners Infrastructure Fund, which will target high-quality assets, sectors and fund managers.
The $711 million includes commitments to the main fund and to separately managed accounts.
According to Macquarie, MAPIF will leverage the firm’s three decades of infrastructure investing experience to apply a specialist approach to infrastructure secondaries, as opposed to what the firm identified as a more common, generalist approach taken by other investors in the secondary market.
Macquarie is the largest infrastructure asset manager in the world—approximately $190 billion of its $588.1 billion in assets under management are invested in infrastructure assets.
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The firm has 180 portfolio companies within its infrastructure holdings, with 300 million people relying every day on the infrastructure projects it owns, according to Macquarie’s website.
Macquarie stated that it raised capital for the new fund from pension funds, family offices and insurance companies across the Americas, Asia Pacific, Europe, the Middle East and Africa.
“While our clients remain focused on allocating capital to infrastructure, liquidity and j-curve mitigation have become increasingly desirable [for limited partners, with general partners also seeking liquidity solutions for their investor],” said Wandy Hoh, Macquarie Asset Management’s head of infrastructure secondaries, in a statement. “We are grateful for the confidence that MAPIF investors have placed in us, which recognizes Macquarie Asset Management’s decades of extensive infrastructure investment experience and the ability to bring new solutions to market.”
According to Evercore Private Capital Advisory’s H1 2025 Secondary Market Review report, infrastructure has accounted for 6% of LP-led secondary market volume since the first half of 2023. Private equity buyouts remain most prevalent, at 72%.
Evercore noted the growing presence of specialized buyers in secondary funds has driven interest in more thematic continuation vehicles, with these investors seeking exposure to targeted strategies.
“This has fueled increased activity across credit, infrastructure, and venture secondaries, expanding the scope of the GP-led market,” the Evercore report stated.
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Tags: Infrastructure, Macquarie Asset Management
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