Meketa Dips Toe into Retail Marketplace Via Interval Fund Offering
In an effort to enable more investors to efficiently access the dynamic private markets asset classes, Meketa Investment Group recently launched subsidiary Meketa Capital LLC. The Meketa Infrastructure Fund is the first offering from the firm’s newly formed Meketa Capital division, which aims to provide alternative investment options in the retail marketplace through registered independent advisers and other intermediaries.
The Meketa Infrastructure Fund is an infrastructure-focused interval fund registered under the Investment Company Act of 1940. Designed for advisers who serve the retail investor marketplace, the fund will consist predominantly of private infrastructure assets and have the flexibility to invest in infrastructure funds, public securities, and cash. It will be priced daily and offer liquidity for up to 5% of the fund’s net asset value once per quarter. Meketa anticipates that the fund will deliver access and simplicity to individual investors interested in accessing private infrastructure investments.
“We’re thrilled to launch Meketa Capital and the Meketa Infrastructure Fund as part of our effort to enable more investors to efficiently access the dynamic private markets asset classes,” said Stephen McCourt, managing principal and co-chief executive officer of Meketa. “Increasingly, individual investors are looking beyond the 60/40 portfolio, seeking greater diversification and access to private market investments in different forms. With our institutional expertise, experienced team, and long-standing relationships, Meketa is well-positioned to identify opportunities and partner with financial intermediaries to help individual investors achieve their investment objectives.”
Meketa Capital will serve as the fund’s adviser, leveraging Meketa’s more than 20 years of private markets investment, advisory, and portfolio management experience. Designed for individual investors, the fund will not be offered to Meketa’s institutional client base.
“As interval funds have historically focused on private credit and real estate, infrastructure is a relatively new asset class for the RIA marketplace,” said Michael Bell, chief executive officer of Meketa Capital. “With infrastructure in strong demand, we are pleased to introduce a fund with the structure and investment strategy designed to meet the needs of today’s increasingly sophisticated individual investor. … Eliminating the burden of subscription documents, investor limitations, operational constraints, and K-1s, this fund will be available to financial advisers to purchase via ticker symbol.”
Founded in 1978 and Boston-based, Meketa Investment Group is an employee-owned, full-service investment consulting and fiduciary management firm. As an independent fiduciary, the firm serves institutional investors in non-discretionary and discretionary capacities. Meketa’s collective client assets under advisement represent approximately $1.8 trillion as of Sept. 30, 2023.
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