Manulife Investment Management has announced the final close for its second infrastructure fund Manulife Infrastructure Fund II.

The fund has raised a total of CAD4.65 billion (US$3.69 billion) at the final close, exceeding the original target. The fund aims to invest in core and core-plus infrastructure assets in the United States. Manulife Infrastructure Fund II received funding from 29 limited partners and Manulife's general account.

The fund has already made six investments, from which three are within the telecoms sector, two are related to renewable energy and one investment is into a tunnel network in southern Virginia. Credit Suisse acted as adviser to the fund manager.