Wed, 28/11/2012 - 15:56
Macquarie Group has been awarded a mandate to establish and manage an infrastructure debt portfolio for the reinsurance and insurance provider Swiss Re.
The USD500m mandate is the first to be secured by the new Macquarie Infrastructure Debt Investment Solutions (MIDIS) business.
MIDIS will deliver infrastructure debt investment opportunities to long-term institutional investors. The portfolio will be invested in senior secured debt of infrastructure businesses and assets located predominantly in northern Europe.
James Wilson, senior managing director and chief executive of MIDIS, says: “The launch of the MIDIS platform will leverage Macquarie’s unrivalled global infrastructure expertise and relationships and provide long-term investors the opportunity to access stable and superior risk-adjusted returns. It is an asset class which lends itself well to insurance companies and pension funds seeking robust long-dated assets to match their long-term liabilities. We are delighted to work together with Swiss Re to manage its infrastructure debt investment and we look forward to a successful partnership.”
Klaus Weber, managing director and head of external investment mandates of Swiss Re, says: "We expect the market to evolve substantially over the next few years and are excited to participate in this development. With its particular characteristics, infrastructure debt fits well with our asset and liability management approach and provides attractive long-term investments, well aligned with our balanced investment strategy. We are delighted to work with Macquarie in what is an important initiative for us and are confident it will give us access to high quality assets and deliver favourable risk adjusted returns."
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