Manulife Investment Management (Manulife IM) has officially closed the Manulife Infrastructure Fund III (MIF III), raising $5.5 billion. This figure exceeds the firm’s original fundraising target. And this fundraising effort underscores Manulife IM’s strong position in the infrastructure investment sector.
MIF III is the firm’s third flagship infrastructure fund, with a primary focus on investing in high-quality, core-plus infrastructure assets throughout North America. These assets typically include essential infrastructure such as transportation, utilities, and renewable energy projects that offer reliable cash flows and growth potential. By targeting the North American market, MIF III aims to capitalize on the increasing demand for upgraded and sustainable infrastructure.
The firm has built a solid reputation over the past two decades for executing effective mid-market infrastructure strategies. This strong track record has enabled them to provide investors with attractive risk-adjusted returns, which is a critical consideration for many institutional and individual investors.
To date, MIF III has successfully executed 11 investments, positioning the portfolio for a strong start. Each investment has been carefully selected to align with the fund’s core-plus strategy, aiming to enhance returns while managing risk. The investment team is skilled and experienced, enabling them to navigate the market’s complexities effectively.
Support: Campbell Lutyens acted as fundraising placement agent for Manulife IM. Ropes & Gray acted as the legal counsel, and Deloitte acted as the tax adviser for the fundraising. Manulife IM’s global private market capabilities consist of real assets, including infrastructure, real estate, timberland, and agriculture, and private equity and credit.
KEY QUOTES:
“We are pleased to announce this milestone – and I congratulate the infrastructure team on another successful fund close and this achievement for our Private Markets platform – as the largest fund that Manulife IM has raised to date. We are seeing strong momentum across the business, and it is an especially exciting time in infrastructure as the asset class continues to be a core allocation for investors seeking diverse, long-term returns.”
Anne Valentine Andrews, global head of private markets, Manulife IM
“We’ve seen tremendous interest in this strategy since launching our first Infrastructure Fund in 2018 and are grateful to being oversubscribed in each of our offerings. The strategic holdings across the first two funds provided investors with confidence in Fund III amidst uncertainty in the geopolitical landscape and macro-economic headwinds in the U.S. As part of delivering a healthy diversified portfolio, the team is focused on sourcing differentiated opportunities, which are structured to withstand market volatility and leverage momentum of trends in the underlying assets.”
Recep Kendircioglu, global head of infrastructure, Manulife IM
“Investor enthusiasm for MIF III underscores the confidence in our North American investment strategy. We are humbled by the long -standing support of investors who have been with us since Fund I and are thrilled to welcome new investors who share our belief in the strategy, our disciplined approach, and our commitment to delivering strong returns.”
Avyanna De Biswas, head of infrastructure investor relations, Manulife IM
