Fengate Closes Fundraising for Fourth Infrastructure Fund at $1.1B

Fengate Asset Management secured $1.1B in total capital commitments at the final close of the fourth generation of its flagship closed-ended infrastructure fund, Fengate Infrastructure Fund IV.

The oversubscribed fund is the Toronto-based alternative investment firm's largest to date, thanks to support from investors including public and private pension plans, insurance companies and fund-of-funds managers in Canada, the US, Europe and Japan. Fengate noted that the LiUNA Pension Fund of Central and Eastern Canada also participated in the fundraising.

In line with the firm's strategy, Fund IV will target core-plus and value-add infrastructure investment opportunities in North America. As of the end of 2024, the fund has deployed or pledged over $740M, building a portfolio comprising eight investments in areas including social, transportation, energy transition and digital infrastructure.

Founded in 2006 and focusing on infrastructure, private equity and real estate strategies, Fengate said it currently has $7B in capital commitments under management. 

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Written By: Dakota