Meketa Infrastructure Fund
Data through 2026-03-31 · latest filing 486BPOS filed 2026-07-30
Sponsored by Meketa Capital. Interval Fund structure focused on infrastructure.
Interval FundInfrastructure
- Net assets
- $91.9M
source
Shareholder report (Form N-CSR) · filed 2026-06-08 · period 2026-03-31
Statement of Assets and Liabilities fund-level identity (Total assets - Total liabilities [- Preferred Shares] = Net Assets; no per-class breakdown template matched this filer agent)
“STATEMENT OF ASSETS AND LIABILITIES March 31, 2026 ASSETS Investments in securities: Investments at cost $ 83,864,827 Investments at value 93,254,629 Foreign currency, at value (cost $3,217) 3,217 Receivable for capital shares sold 284,880 Dividends and interest receivable 182,969 Tax reclaims receivable 1,947 Prepaid expenses 117,323 TOTAL ASSETS 93,844,965 LIABILITIES Payable for capital shares redeemed 1,749,109 Payable to Adviser (Note 4) 16,461 Payable to administrator (Note 4) 34,340 Accrued shareholder servicing fees (Note 4) 4,623 Accrued professional fees 76,627 Other accrued expenses 28,354 TOTAL LIABILITIES 1,909,514 Contingencies and Commitments (Note 6) NET ASSETS $ 91,935,451”
Method Matched text template against the filing
Open the filing on SEC.gov · Full observation history
Technical locator
as of 2026-03-31 - NAV / share
- $29.44
source
Shareholder report (Form N-CSR) · filed 2026-06-08 · period 2026-03-31
S1_class_sectioned_row_labelled — class Class I; column Year Ended March 31, 2026; net asset value, end of period
“Net asset value at end of year/period $ 29.44 $ 27.25 $ 25.89”
Method Matched text template against the filing
Open the filing on SEC.gov · Full observation history
Technical locator
Class I · as of 2026-03-31 - Net flows, last qtr
- +5.8% qtr ended 2026-03-31
- Distribution coverage (NII)
- Not yet compiled Not yet compiled
- Leverage in use
- Not yet compiled Not yet compiled
- Total return, 12m
- +9.41% SEC-filed fiscal year return 2025-04-01 to 2026-03-31 · Class I · SEC source 0001213900-26-066118
What changed in the latest filings.
Current findings ordered by severity. Each observation remains traceable to its filed source.
New share sales fell 12% from the prior month (2.8% of net assets to 2.4% of net assets), and down 63% over the trailing year.
New share sales fell 12% from the prior month (2.8% of net assets to 2.4% of net assets), and down 63% over the trailing year.
Why it matters and what changed
New share sales down 50% or more over the trailing year, as a share of the fund: the fund is raising half the money it did, and redemptions now lean on the portfolio.
2.4% of net assets in the period, from 2.8% the period before.
Source: NPORT-P mon3Flow.sales | https://www.sec.gov/Archives/edgar/data/1988752/000091047226008238/xslFormNPORT-P_X01/primary_doc.xml
The fund's expense limitation expires July 31, 2027.
The fund's expense limitation expires July 31, 2027.
Why it matters and what changed
A dated fee waiver is now within six months of expiry. If it is not extended, the expense increase lands on shareholders; extensions are usually disclosed via a short 8-K or prospectus supplement, so silence approaching the date is itself information.
First occurrence; no comparative values apply to this rule type.
Source: https://www.sec.gov/Archives/edgar/data/1988752/000121390026083418/ea0298681-01_486bpos.htm | Summary of Fund Expenses, p9 footnote 8; the Expense Cap is class specific and no single fund-level rate is printed: 2.00% for Class I Shares, 2.15% for Class II Shares and 1.90% for Class III Shares of average daily net assets of the applicable class, so numeric_value is left empty and the three printed rates are carried in the text and this locator
Historical findings (2)
New share sales fell 68% from the prior period ($1.2M -> $400,135, period ended 2025-01-31).
New share sales fell 100% from the prior period ($1,000 -> $0.00, period ended 2024-05-31).
How the fund has moved.
Net asset value, total return, capital flows, and distribution coverage across the filing record.
Filed performance history
| Window | Class | Basis | Return | Source |
|---|---|---|---|---|
| 2025-04-01 to 2026-03-31 | Class I | basis not stated in the filed row | +9.41% | SEC source 0001213900-26-066118 |
| 2024-04-01 to 2025-03-31 | Class I | basis not stated in the filed row | +6.83% | SEC source 0001213900-26-066118 |
| 2024-01-29 to 2024-03-31 | Class I | basis not stated in the filed row | +3.79% | SEC source 0001213900-26-066118 |
What moved inside the book.
Filed portfolio-health facts and position changes. Missing disclosures stay visibly missing.
| Date | Position change |
|---|---|
| 2025-06-30 | Fidelity Institutional Cash Portfolios (18.6% of portfolio value in the 2025-03-31 report, $11,140,241) is absent from the 2025-06-30 report -- realized, sold, or restructured under a different name. |
| 2025-06-30 | New position Fidelity Colchester Street Trust: 16.8% of portfolio value ($11,368,849) as of 2025-06-30; absent from the 2025-03-31 report. |
| 2025-03-31 | The Williams Companies, Inc. (1.5% of portfolio value in the 2024-12-31 report, $535,355) is absent from the 2025-03-31 report -- realized, sold, or restructured under a different name. |
| 2025-03-31 | New position Williams Companies Inc. (The): 1.5% of portfolio value ($920,304) as of 2025-03-31; absent from the 2024-12-31 report. |
| 2024-06-30 | New position N/A: 34.0% of portfolio value ($8,975,361) as of 2024-06-30; absent from the 2024-03-31 report. |
Where exit demand met the cap.
Every one of the 5 disclosed periods was filled in full. (3) An Early Repurchase Fee of 2.00% will be charged by the Fund with respect to any repurchase of Shares from a Shareholder at any time prior to the day immediately preceding the one -year anniversary of the Shareholder’s purchase of the Shares. For repurchases of Shares not otherwise subject to an Early Repurchase Fee, the Fund is permitted to allocate costs and charges imposed by Portfolio Funds to Shareholders tendering their shares for repurchase if the Investment Committee determines to liquidate such Portfolio Funds’ interests as a result of repurchase tenders by Shareholders and such charges are imposed on the Fund. Any such costs and charges are limited to a maximum amount of 2.00% of the value of the Shares repurchased.
| Period | Requested | Filled | Cap used | Status |
|---|---|---|---|---|
| 2026-03-31 | - | 100% | - | filled |
| 2025-12-31 | - | 100% | - | filled |
| 2025-09-30 | - | 100% | - | filled |
| 2025-06-30 | - | 100% | - | filled |
| 2025-03-31 | - | 100% | - | filled |
How the balance sheet is funded.
Borrowings, unused capacity, and synthetic exposure are separated so unlike risks do not collapse into one ratio.
Not yet compiled
How the offering is divided.
A filed share-class breakdown and terms-based role descriptions. This is not an estimate of who owns the fund.
Who can invest: No investor qualification is stated in the prospectus. 486BPOS filed 2026-07-30.
Not attributed 100.0%
| Class | Terms-based role description | Load | Servicing | Minimum | Assets |
|---|---|---|---|---|---|
| Class I | Servicing-fee class for brokerage or platform distribution. | 0.00% | 10 bps | $1,000,000 | - |
| Class II | Servicing-fee class for brokerage or platform distribution. | 0.00% | 25 bps | $50,000 | - |
| Class III | No-load, high-minimum class; terms indicate advisory or large-account access. | 0.00% | 0 bps | $25,000,000 | - |
Management fee: 1.50% of average daily net assets per year, current as of latest filed disclosure. Research only: not used in a fee distribution. SEC source 0001213900-26-083418.
Filed fee conditions
In consideration of the advisory and other services provided by the Adviser to the Fund under the Investment Management Agreement, the Fund will pay the Adviser an investment management fee (the “Management Fee”) at the annual rate of 1.50% of the average daily net assets of the Fund (or such lesser amount as the Adviser may from time to time agree to receive). The Management Fee is paid to the Adviser out of the Fund’s assets and decreases the net profits or increases the net losses of the Fund. The Management Fee will be payable monthly in arrears or at such other intervals, not less frequently than quarterly, as the Board may determine and specify in writing to the Adviser.
Canonical-class fee profile
| Class | Management | Incentive | Load | Servicing | Gross expenses | Net expenses |
|---|---|---|---|---|---|---|
| Class I | 1.50% | None
*
None. The standardized prospectus fee table contains no incentive/performance-fee line. SEC source 0001213900-26-083418 |
0.00% | 10 bps | - | - |
The evidence beneath the page.
Filed terms and recent documents remain available without crowding the primary research flow.
Term register (7)
| Term | Description | Value | Effective |
|---|---|---|---|
| advisory_fee_schedule | In consideration of the advisory and other services provided by the Adviser to the Fund under the Investment Management Agreement, the Fund will pay the Adviser an investment management fee (the “Management Fee”) at the annual rate of 1.50% of the average daily net assets of the Fund (or such lesser amount as the Adviser may from time to time agree to receive). The Management Fee is paid to the Adviser out of the Fund’s assets and decreases the net profits or increases the net losses of the Fund. The Management Fee will be payable monthly in arrears or at such other intervals, not less frequently than quarterly, as the Board may determine and specify in writing to the Adviser. | 1.5 pct annual of average daily net assets | - |
| expense_limitation | (8) The Adviser has entered into an expense limitation and reimbursement agreement (the “Expense Limitation Agreement”) with the Fund, whereby the Adviser has agreed to reduce the Management Fee payable to it (but not below zero), and to pay any operating expenses of the Fund, to the extent necessary to limit the operating expenses of the Fund (excluding brokerage commissions and other transactional expenses (including fees, legal costs and brokerage commissions associated with the acquisition and disposition of primary interests, secondary interests, co-investments, and other investments), interest (including interest incurred on borrowed funds and interest incurred in connection with bank and custody overdrafts), other borrowing costs and fees including interest and commitment fees, taxes, acquired fund fees and expenses, litigation and indemnification expenses, judgments, and extraordinary expenses) to the annual rate (as a percentage of the average daily net assets of the applicable class of Shares of the Fund) of 2.00%, 2.15% and 1.90% with respect to Class I Shares, Class II Shares and Class III Shares, respectively (the “Expense Cap”). For a period ending three years after the end of the month in which the Adviser waives its Management Fee or pays any operating expenses of the Fund pursuant 9 to the Expense Cap, the Adviser may recoup amounts waived or incurred to the extent such recoupment does not cause the Fund’s operating expense ratio (after recoupment and excluding brokerage commissions and other similar transactional expenses, interest (including interest incurred on borrowed funds and interest incurred in connection with bank and custody overdrafts), other borrowing costs and fees including interest and commitment fees, taxes, acquired fund fees and expenses, litigation and indemnification expenses, judgments, and extraordinary expenses) to exceed the lesser of (a) the expense limit in effect at the time of the waiver, and (b) the expense limit in effect at the time of the recoupment. The Expense Limitation Agreement will continue in effect through July 31, 2027, and will renew automatically for successive periods of one year thereafter, unless written notice of termination is provided by the Adviser to the Fund not less than 10 days prior to the end of the then -current term. | Text disclosure | - |
| fee_waiver | The Adviser may but is not obligated to waive up to 0.50% of the Management Fee on cash and cash equivalents held in the Fund from time to time. Any such voluntary reimbursement is not eligible for recoupment and may be terminated at any time. | 0.5 pct of management fee waivable on cash and cash equivalents | - |
| fund_inception_date | 2024-01-29 | Text disclosure | 2024-01-29 |
| leverage_ceiling | Under the 1940 Act, the Fund is not permitted to borrow for any purposes if, immediately after such borrowing, the Fund would have asset coverage (as defined in the 1940 Act) of less than 300% with respect to indebtedness. The 1940 Act also provides that the Fund may not declare distributions or purchase its Shares (including through repurchase offers) if, immediately after doing so, it will have an asset coverage of less than 300%. | 300.0 asset coverage | - |
| lockup_or_early_repurchase_fee | (3) An Early Repurchase Fee of 2.00% will be charged by the Fund with respect to any repurchase of Shares from a Shareholder at any time prior to the day immediately preceding the one -year anniversary of the Shareholder’s purchase of the Shares. For repurchases of Shares not otherwise subject to an Early Repurchase Fee, the Fund is permitted to allocate costs and charges imposed by Portfolio Funds to Shareholders tendering their shares for repurchase if the Investment Committee determines to liquidate such Portfolio Funds’ interests as a result of repurchase tenders by Shareholders and such charges are imposed on the Fund. Any such costs and charges are limited to a maximum amount of 2.00% of the value of the Shares repurchased. | 2.0 pct of repurchased amount | - |
| repurchase_program_terms | In order to provide liquidity to Shareholders, the Fund has adopted a fundamental investment policy to make quarterly offers to repurchase between 5% and 25% of its outstanding Shares at the applicable NAV per Share, reduced by any applicable repurchase fee. Subject to applicable law and approval of the Board, for each quarterly repurchase offer, the Fund currently expects to offer to repurchase 5% of the Fund’s outstanding Shares at the applicable NAV per Share, which is the minimum amount permitted. | 5.0 pct of outstanding shares per quarter currently expected | - |
Recent filings
| Filed | Form | Accession |
|---|---|---|
| 2026-07-30 | 486BPOS | 0001213900-26-083418 |
| 2026-06-08 | N-CSR | 0001213900-26-066118 |
| 2026-05-29 | NPORT-P | 0000910472-26-008238 |
| 2026-05-22 | N-23C3A | 0001213900-26-060303 |
| 2026-03-02 | NPORT-P | 0000910472-26-003724 |
| 2026-02-20 | N-23C3A | 0001213900-26-018732 |
| 2025-12-05 | N-CSRS | 0001213900-25-118733 |
| 2025-11-26 | NPORT-P | 0000910472-25-004190 |
| 2025-11-21 | N-23C3A | 0001213900-25-113524 |
| 2025-08-27 | NPORT-P | 0001752724-25-207626 |
| 2025-08-19 | N-23C3A | 0001213900-25-078265 |
| 2025-06-09 | N-CSR | 0001213900-25-052605 |
| 2025-05-30 | NPORT-P | 0001752724-25-129659 |
| 2025-05-23 | N-23C3A | 0001580642-25-003262 |
| 2025-03-03 | N-23C3A | 0001580642-25-001282 |