MIP IV reached its hard cap in December last year and exceeded the $3bn MIP III. : Macquarie Infrastructure and Real Assets’ (MIRA) latest North American infrastructure fund has raised $5bn (€4.4bn) at close. The manager said Macquarie Infrastructure Partners IV (MIP IV), which reached its hard cap in December last year, has exceeded its predecessor fund, MIP III, which closed at its hard cap of $3bn in 2014. IPE Real Assets previously reported that North Dakota State Investment Board was planning to issue a $140m commitment to MIP IV.