InstarAGF Asset Management has closed its flagship infrastructure fund, InstarAGF Essential Infrastructure Fund, raising $740 million in committed capital. The fund, backed by institutional and high-net-worth investors in Canada, the United States and Europe, will invest in mid-market infrastructure deals across North America. It has already deployed about 30 percent of the funds raised to three opportunities, including the 2015 buy of Billy Bishop Toronto City Airport and last year’s investment in Steel Reef Infrastructure Corp.