Key Takeaways
- Geography: United States.
Analysis
Macquarie Asset Management has completed the final close of its inaugural infrastructure secondaries fund, the Macquarie Alliance Partners Infrastructure Fund (MAPIF), with total commitments of US$711 million. The figure includes both fund and separately managed account (SMA) capital.
MAPIF is Macquarie’s first infrastructure secondaries vehicle and reflects growing global appetite for secondary investments in infrastructure. The fund targets a diversified portfolio of high-quality assets, sectors, and managers, backed by institutional investors across EMEA, APAC, and the Americas.
The strategy offers investors liquidity, J-curve mitigation, and access to mature assets—a trend that is increasingly favored over blind-pool primary commitments. Macquarie applies a specialist approach to infrastructure secondaries, leveraging over 30 years of sector experience and a network of more than 400 professionals in 34 global markets.
MAPIF joins a wave of large-scale secondaries activity in infrastructure. Recent examples include:
- Stafford Infrastructure Secondaries Fund V, targeting €1.3 billion, with significant commitments from European and Asian LPs.
- Blackstone Strategic Partners Infrastructure Fund IV, which closed at US$4.4 billion, highlighting surging LP interest in secondaries platforms.
According to Wandy Hoh, Head of Secondaries at Macquarie Asset Management, the fund meets investor demand for tailored infrastructure exposure: “Clients want continued access to infrastructure, but with more flexibility and faster capital deployment. MAPIF is a direct response to that need.”
The global infrastructure secondaries market is projected to grow rapidly, fueled by investor interest in stable returns, mature assets, and faster capital deployment. Funds like MAPIF offer a compelling route to achieve these goals while addressing the evolving liquidity needs of both LPs and GPs.