Meridiam, an infrastructure investment and asset management company, has closed its North America Core Fund, valued at approximately US$4.5 billion. The fund comprises a portfolio of 15 infrastructure assets, with total investor demand exceeding US$7 billion, indicating strong interest in the investment vehicle. The fund is designed to provide investors with access to established infrastructure projects that support essential services and long-term economic activity across North America. The portfolio consists of essential, long-life transportation and social infrastructure assets sourced from the first two generations of Meridiam’s funds. The transaction also extends the life of the original MINA II fund to 45 years, broadly matching the average lifespan of the underlying assets. By bringing these operational assets together in a diversified portfolio, Meridiam aims to maintain their long-term performance while continuing to provide essential services.

The fund offers investors exposure to mature infrastructure assets that support mobility, public services and economic activity across the Americas. According to Meridiam, the portfolio is structured to generate stable and predictable long-term returns, with contractual mechanisms providing a degree of protection against inflation. Active asset management is also expected to help preserve asset values, strengthen cash flows and improve long-term investment performance. In addition to their established operational performance, the assets offer opportunities for further value creation through lifecycle management, operational optimisation and sustainability initiatives. Meridiam plans to improve efficiency, strengthen infrastructure resilience and enhance asset performance through its long-term ownership and management approach. These measures are intended to support the continued delivery of essential services while creating lasting value for investors and the communities that depend on the infrastructure.

The transaction provides existing investors with an opportunity to realise liquidity from their investments, while allowing those who choose to remain invested to participate in future value creation. At the same time, the fund enables new investors to gain exposure to a diversified portfolio of fully operational infrastructure assets with established performance records, resilient cash flows and long-term growth potential.