MAPFRE, Abante launches fund to invest in MIRA's fund

Spanish insurer MAPFRE and its strategic partner Abante have launched an infrastructure fund of at least EUR200 million (US$236.10 million) to invest in Macquarie Infrastructure and Real Assets’ (MIRA) infrastructure funds. 

MAPFRE Infraestructuras FCR, as the vehicle has been called, will facilitate access to the main investment strategies in global infrastructures in an efficient and diversified manner, through Macquarie's investment arm. MAPFRE will contribute an initial capital of EUR50 million (US$58.9 million) and will invite other institutional investors and private banking clients to participate in the fund under a co-investment model. 

Both MAPFRE and Abante will work together with MIRA in the selection of the most appropriate investments within the portfolio of strategies that the Australian manager currently has in place, which include renewable energy, transport, communications, public services, and waste management. In addition, the two partners will be able to serve on the Macquarie funds oversight committees.