Macquarie Group's (ASX:MQG) shares advanced almost 2% in recent trading on Friday after Macquarie Asset Management said on Thursday that 1.2 billion euros had been raised into the Macquarie European Infrastructure Debt Fund upon the fund's final close.

The firm added that another 2.3 billion euros were raised from separately managed accounts.

It said the fund was designed for insurance companies and pension fund investors, and it was launched due to demand from insurance companies for a pooled fund vehicle which would invest into high-quality infrastructure debt assets aligned to Solvency II regulations.

The fund had a portfolio of 24 European infrastructure debt investments and was over 80% deployed at final closing.