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RM Funds is launching an open-ended lower risk/return alternatives fund to cater to investor caution in the face of an increasingly challenging macro environment.

The new vehicle’s portfolio includes 12 solar projects acquired from the $80m greenfield renewables fund the Japanese asset manager liquidated earlier this year.

The combined division will look to tap into the growing demand for alternative strategies.

The firm, which was created from Northill’s takeover of Hastings group’s international business, has added fundraising and energy expertise to its ranks.

The Swiss fund manager will partner with local developer CWP Renewables in the project, which will combine wind, solar and energy storage assets.

The single commitment to the IIF was preferred to an investment in IFM, concluding the UK pension’s search for an open-ended global infrastructure vehicle.

The acquisition from Macquarie comes roughly 10 years after MEIF2 paid €1.4bn to gain control of the German metering company.

The firm has topped the $3.5bn fundraising goal for its Macquarie Infrastructure Partners IV vehicle and has yet to hold final close.

India’s infrastructure market continues to entice and, for some, to disappoint. While the government has made infrastructure development a priority and there are pockets of opportunity, the country still isn’t an easy market to invest in, finds Siddharth Poddar