#Canada #Toronto #Infrastructure Fund #private markets #Manulife Investment

Manulife Investment Management's Infrastructure Fund III Achieves Historic $5.5 Billion Close

Manulife Investment Management (Manulife IM) has proudly announced the successful final closing of its third flagship infrastructure fund, the Manulife Infrastructure Fund III, L.P. ("MIF III"). This significant milestone marks an impressive achievement, raising an astounding $5.5 billion, which notably exceeds the original target set for the fund. This accomplishment highlights the firm’s growing reputation in the mid-market infrastructure sector.

In the evolving world of investment management, MIF III is positioned to focus on acquiring high-quality core-plus infrastructure assets within North America. With over two decades of experience, Manulife IM has built a solid track record of delivering strong risk-adjusted returns for its investors. The firm has successfully navigated the complexities of mid-market strategies that appeal to a diverse range of stakeholders.

Anne Valentine Andrews, the global head of private markets at Manulife IM, expressed her satisfaction with the results, stating, "We are pleased to announce this milestone, and I congratulate our infrastructure team on another successful fund close. This achievement solidifies Manulife IM's status as a leader in private markets, with MIF III being our largest fund raised to date.” She emphasized the growing momentum across the business and indicated that infrastructure continues to attract attention as a core allocation for both institutional and private investors seeking long-term, diverse returns.

Recep Kendircioglu, the global head of infrastructure at Manulife IM, further highlighted the overwhelming interest in MIF III, noting that each offering has been oversubscribed since the launch of their inaugural Infrastructure Fund in 2018. He attributed this success to the solid performance and strategic holdings of the first two funds, which instilled confidence among investors, particularly during uncertain geopolitical and macro-economic climates. Kendircioglu emphasized the team’s focus on sourcing unique opportunities designed to endure market fluctuations and to capitalize on emerging trends within the assets.

Having already made 11 investments, MIF III is off to a robust start, and the investment team aims to maintain this momentum by progressing on a strong pipeline of opportunities within the North American mid-market. Avyanna De Biswas, the head of infrastructure investor relations at Manulife IM, affirmed, “The enthusiastic response from investors for MIF III conveys a solid belief in our North American investment strategy. We appreciate the ongoing support from long-term investors as well as the enthusiasm from new contributors who align with our disciplined investment approach.”

The firm has partnered with Campbell Lutyens, which acted as the fundraising placement agent, and has enlisted Ropes & Gray for legal counsel, with Deloitte providing tax advisory services for this fundraising initiative. Manulife IM's capabilities extend beyond infrastructure to encompass real assets, including real estate, timberland, agriculture, and private equity and credit.

About Manulife Wealth & Asset Management

Manulife Wealth & Asset Management, a segment of the Manulife Financial Corporation, plays a crucial role in delivering global investment solutions, financial advice, and retirement planning services to a diverse base of 19 million individuals and institutional clients. Their mission centers around simplifying decision-making for individuals while ensuring better life outcomes through empowered investment strategies. Clients expect well-managed risk, deep expertise across various market segments, and thorough retirement services. The firm continually strives to provide superior investment experiences and positive social impacts while helping clients achieve a secure financial future.

For further details on Manulife IM and its offerings, please visit manulifeim.com.