Meridiam announces the closing of Meridiam North America Fund III

PARIS, Oct. 31, 2017 /PRNewswire/ -- Meridiam, a leading global investor and asset manager specializing in public and community infrastructure, announced today that on July 12, 2017, it had raised$1.2 billion for a fund dedicated to long-term investments in North American public infrastructure projects.

The fund, a successor to Meridiam Infrastructure North America Fund II, the investment period of which ends in December 2017, is seeking to invest in a range of infrastructure projects, with a focus on greenfield long term contracted infrastructure projects in North America.

The 25-year fund will invest in sustainable and climate resilient assets in accordance with Meridiam's environmental, social and governance ("ESG") policy, with the aim of benefitting local communities.

The fund received strong support from US pension funds and insurance companies who confirmed their interest in a developing infrastructure asset class in response to the country's critical need and represent two thirds of the commitments to the fund.

Meridiam has closed 13 projects in the Americas since 2009, including a number of pioneering projects:

• Port of Miami Tunnel in Florida, the first availability payment P3 in the United States¹;
• Long Beach Courthouse, the first social infrastructure P3 in the US²;
• LaGuardia Central Terminal, the first greenfield airport P3 in the US³;
• Purple Line Light Rail, Maryland, one of the largest US availability-based P3s to date⁴; and
• Presidio Parkway, California, the first transportation P3 in California⁵

Meridiam has also pioneered investment in congestion relief managed lanes projects that include North Tarrant Expressway and LBJ in Texas as well as the recently awarded I-66 in Virginia. Meridiam now manages a total of USD 6.8 billion.

"The P3 market is growing and is increasingly diversified, P3s are being applied to new sectors and are carried out not only at a state level but also at city level. Meridiam's team has developed an attractive pipeline of opportunities and will continue to execute its strategy of investing into greenfield P3 projects." said Jane Garvey, Chairman, Meridiam North America.

"North American institutional investors showed strong appetite for the type of stable, long-term investment returns that we believe infrastructure can deliver while helping local communities develop." stated Thierry Déau, Founder and CEO of Meridiam.

About Meridiam:

Meridiam was founded in 2005 by Thierry Déau, with the belief that the alignment of interests between the public and private sector can provide critical solutions to the collective needs of communities. Meridiam is an independent investment firm specializing in the development, financing, and management of long-term and sustainable public infrastructure projects. With offices in, New York, Paris, Toronto, Luxembourg, Istanbul, Vienna, Addis Ababa and Dakar, Meridiam currently manages USD 6.8 billion of assets, and more than 60 projects under development, construction, or in operation to date.

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SOURCE Meridiam