Meridiam targets $4 billion for North American infrastructure fund

Meridiam is advancing significant fundraising efforts for its infrastructure funds. The firm is reportedly targeting more than $4 billion for its North American continuation fund, the Meridiam Infrastructure North America Core Infrastructure Fund. This vehicle is intended to hold mature assets from its previous fund, which included projects such as LaGuardia Airport terminal, the Purple Line in Maryland, and the Port of Miami tunnel.

In Europe, Meridiam is also active in the continuation fund market, having recently closed a €2.2 billion vehicle to house assets like the Tours-Bordeaux TGV line and various social infrastructure projects. Additionally, the firm plans to target a first closing for its agricultural transition infrastructure fund in late 2026.

The rise of continuation funds is becoming a major driver in the private equity market as general partners and limited partners seek liquidity. While Schroders Capital predicts the market could triple to $330 billion by 2035, the growing popularity of these structures has also brought scrutiny regarding potential conflicts of interest and the quality of information provided to investors.