Meridiam closes $4.5bn continuation vehicle for 15 North American assets, AltAssets reports
Earlier fund investors get an exit; per-asset prices were not disclosed.
At a glance
Meridiam has closed a $4.5 billion continuation vehicle for 15 North American infrastructure assets, keeping the portfolio with the manager while offering investors in earlier Meridiam funds an exit, AltAssets reported.
Meridiam's vehicle is the largest among continuation vehicles with disclosed sizes, ahead of Energy Capital Partners' $834 million vehicle and Triple Point's $55 million Perch Group deal.
An investor rolling into the vehicle accepts the manager's allocation of the $4.5 billion across 15 assets without seeing per-asset marks.
Meridiam has closed a $4.5 billion continuation vehicle for 15 North American infrastructure assets, keeping the portfolio with the manager while offering investors in earlier Meridiam funds an exit, AltAssets reported.
Aggregate size without per-asset marks
Meridiam's vehicle is the largest among continuation vehicles with disclosed sizes, ahead of Energy Capital Partners' $834 million vehicle and Triple Point's $55 million Perch Group deal.
The Meridiam report did not disclose per-asset prices.
The Triple Point figure is an asset-level transaction size, unlike the two aggregate vehicle disclosures.
An investor rolling into the vehicle accepts the manager's allocation of the $4.5 billion across 15 assets without seeing per-asset marks.
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