Fengate raises $1.1 bln in close of third core infrastructure fund

Fengate Asset Management has raised $1.1 billion in committed capital in the final close of its third core infrastructure fund. Fengate Core Infrastructure Fund III exceeded both its $750 million target and initial $1 billion hard cap. It was backed by new and existing limited partners, including public and corporate pension plans, insurance companies and funds of funds, based in North America, Europe and Japan. Fund III, already about 50 percent deployed or committed to seven North American assets, will maintain Fengate's strategy of investing in mid-sized infrastructure assets emphasizing greenfield projects. Based in Toronto, Fengate invests in infrastructure, private equity and real estate.

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