MEAG, the affiliate of Munich Re and ERGO, has closed its second infrastructure debt fund with €1bn ($1.2bn) of commitments from institutional investors, beating its original target of €800m.
According to the asset manager, alongside Munich Re are other insurers, pension funds, banks and international organisations.
The MEAG Infrastructure Debt Fund II will invest in infrastructure projects from transport to social infrastructure in Germany, Europe and the US. Thomas Bayerl, head of illiquid assets debt, said the first investment has already been made.
The previous fund MEAG launched in 2019 raised €660m.