Global Infrastructure Partners (GIP) has raised A$4bn (€2.44bn) for open-ended, Australiasia-focused infrastructure fund.

GIP Australia Fund II (GIPA II) received capital mostly from Australian institutional investors, but it also attracted commitments from investors in Asia, Europe and North America.

Close to half of the capital came from investors in GIP’s first Australia fund.

The New York-based fund manager said the region represented one of the most active infrastructure markets globally, with a high proportion of large-scale transactions. GIP currently manages investments in nine infrastructure assets in Australia.

“GIP has deep experience in, and a strong track record of, investing across Australia,” said chairman and CEO Bayo Ogunlesi. “Australia has always been an important market for GIP, and our Australia fund platforms are an important and natural extension of our global reach.”

GIP is being taken over by Blackrock in a US$3bn transaction.