Macquarie Infrastructure and Real Assets (MIRA) has completed an agreement with Renaissance Capital and Renaissance Group which will see MIRA take control of the infrastructure fund that was previously co-managed by the two companies. The fund will now be renamed Macquarie Russia & CIS Infrastructure Fund (MRIF).

Macquarie acquired Renaissance's commitment to the fund and therefore doubled its equity commitment to MRIF to $100 million.

"We've been very pleased with the investments the Fund has made over the past four years, and we are actively looking for new opportunities in transportation, energy and other sectors that provide essential services," said Aaron Rubin, CEO of MRIF.

MRIF has $63 million of commitments with LPs including cornerstone investor Russian State development bank Vnesheconombank, Eurasian Development Bank, European Bank for Reconstruction and Development, the International Finance Corporation, Kazakh sovereign wealth investment fund Kazyna Capital Management and Macquarie.

MRIF has made four investments to date including Brunswick Rail, OGK-5, GSR Energy and Russian Towers.