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Laxman Pai, Opalesque Asia:

Toronto-headquartered Fengate Asset Management has reached a $1.1 billion final close on its fourth flagship infrastructure fund, exceeding its target.

Fengate Infrastructure Fund IV, the largest ever raised by Fengate, drew support from institutional investors, including the LiUNA Pension Fund of Central and Eastern Canada, alongside other pension plans, insurers, and fund-of-funds managers from Canada, the US, Europe, and Japan, said a press release from the North American investment firm specializing in real assets, with a focus on infrastructure.

In 2024, Fengate raised US$200 million for Fund IV co-investment vehicles, US$550 million for eStruxture Data Centers continuation vehicles, and US$140 million for Fengate Infrastructure Yield Fund, for a total of US$2 billion including Fund IV commitments.

"We exceeded our fundraising target to close the largest fund ever raised by Fengate," said George Theodoropoulos, Managing Partner at Fengate. "This success underscores investors' confidence in our strategy and ability to deliver strong results, despite an exceptionally challenging fundraising environment."

"Fund IV also significantly expanded our investor base and geographic reach. We are grateful for the support from both existing and new investors," George added.

According to the release, Fund IV continues Fengate's strategy of investing in North American core-plus and value-added infrastr......................

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