Infrastructure investment specialist HRL Morrison & Co has hit a A$580m third and final close for its latest fundraise.
Morrison & Co Growth Infrastructure Fund will look to profit from the fundamental value of essential infrastructure services, and will target gross returns of 13% to 15% per year.
The firm said it had secured initial investments for MGIF that reflect emerging trends in infrastructure, including water, energy and sustainable agricultural assets.
MGIF has an allocation commitment of at least 75% in Australia. Its current assets include a South Australian integrated energy, water and greenhouse facility, a community-based water and electricity infrastructure network provider in eastern Australia, and a recently formed renewable energy platform headquartered in Europe focused on wind, solar and photovoltaic energy solutions.
Australia’s Clean Energy Finance Corporation and Australian Ethical acted as cornerstone investors for the fundraise.
Morrison & Co, which was founded in 1988, had about A$15bn of funds under management at the end of June.
The firm invests across private and listed markets, equity and debt, and also enters asset-specific management relationships.
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