By Andrei Skvarsky.
Macquarie, a global financial services provider, has become the sole manager of a major infrastructure investment fund, an entity it used to co-manage with Renaissance Capital and Renaissance Group.
RenCap and Renaissance Group ceded their co-managerial roles to Macquarie under an agreement which, via the takeover of RenCap’s stake, doubled the Australia-based firm’s equity commitment to what has been renamed as Macquarie Russia & CIS Infrastructure Fund (MRIF) to $100m, Macquarie said in a statement.
“Governments in the CIS region recognise the significant need to renew and expand infrastructure to facilitate economic growth,” said Martin Stanley, global head of Macquarie Infrastructure and Real Assets (MIRA), the division that signed the deal on behalf of the Australian group.
“The Russian Government in particular has emphasised the role of the private sector investment to help address this need,” he said.
MRIF chief executive Aaron Rubin said: “We’ve been very pleased with the investments the Fund has made over the past four years, and we are actively looking for new opportunities in transportation, energy and other sectors that provide essential services.”
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