Australia's Macquarie Bank is planning to raise up to $8bn (€5.5bn) to invest in European infrastructure assets as it continues an aggressive expansion in the region. It will be its biggest single fundraising move in Europe.

The bank confirmed it has started marketing the fund and expects to reach a first closing early in 2008. The fund, called Macquarie European Infrastructure Fund III, follows the success of two previous European funds, which raised a combined €6.1bn (€8.9bn).