Macquarie Asset Management says raised $13.16 billion for its network infrastructure fund

(Reuters) -Macquarie Asset Management, a part of Australia’s Macquarie Group Ltd, said on Monday it has raised a total of 12.6 billion euros ($13.16 bln) of commitments for its network infrastructure focused fund.

The Australian firm’s asset management arm said the fundraise drew commitments from investors including insurers, sovereign wealth funds and family offices from 22 countries.

“This latest fundraise underlines the growing value placed on infrastructure during portfolio construction,” group head Ben Way said in a statement.

The fund targets investments in core, regulated, network infrastructure, Macquarie Asset Management said.

Infrastructure investors are lured to network assets such as gas transmission systems and electric grids because of their ability to provide consistent, long-term returns.

Canada’s Ontario Teachers’ Pension Plan Board said last week it plans to buy a 25% stake in British power generator and network operator SSE’s power transmission network business, for a similar reason.

($1 = 0.9572 euros)

($1 = 0.8275 pounds)

(Reporting by Riya Sharma in Bengaluru;editing by Nivedita Bhattacharjee)