On Tuesday, Manulife Investment Management, the $835 billion global asset management arm of Canadian insurance giant Manulife Financial, announced the final close of its second flagship infrastructure fund, MIF II. According to a statement from the company, MIF II is a $4.65 billion private fund pool with committed capital from 29 limited partners along with Manulife’s general account. The fund will make equity investments in core and core-plus infrastructure assets, adding to the firm’s current global private real assets holdings, currently valued at more than $54 billion invested across infrastructure as well as properties, timberland, agriculture, private equity and credit.
MIF II is Manulife’s largest single fund to date.
“We are pleased to announce such a successful fundraise which well-exceeded our target and the size of our first fund pool,” Manulife Investment Management head of real assets Christoph Schumacher said in a statement on Tuesday. “We are grateful to our investors who see the value of our differentiated investment strategy and commitment to building lasting partnerships.”
Manulife Investment Management raised its first infrastructure fund in 2018. Both funds are led by Recep Kendircioglu, co-portfolio manager and head of infrastructure investments, and John Anderson, co-portfolio manager and Manulife’s global head of corporate finance. Manulife Investment Management’s infrastructure investing strategy seeks to work with infrastructure operators looking for a knowledgeable and experienced capital partner.
“We appreciate the long-standing relationships that we have built with pioneering infrastructure operators who are keeping pace in an evolving industry and allow us to invest in a broad array of firms,” Kendircioglu said. “The Fund is backed by a knowledgeable and experienced team who will focus the majority of the fund’s investments on infrastructure assets including renewable energy and storage, digital infrastructure, transportation, and regulated utilities.”
