Continental Europe Infrastructure GPs

by Iain Jones

  • 05 Oct 2011
  • INF

Preqin is currently tracking 55 Continental Europe-based infrastructure fund managers that are either in the process of raising a closed-end unlisted infrastructure fund or have done so in the past. These managers have closed a total of 53 infrastructure vehicles, accumulating an aggregate €16.7bn in the process. There are a further 32 unlisted infrastructure funds, managed by Continental Europe-based GPs, currently on the road, seeking €10.9bn.

64% of Continental Europe-based infrastructure GPs are first-time fund managers, while 22% have raised two vehicles, and a further 15% have closed three or more funds; this relatively high proportion of experienced fund managers, when compared to other regions, is a reflection of Europe’s position at the forefront of the infrastructure universe. France is the most prominent GP country location within Continental Europe, accounting for 18% of the fund managers based in the region. Managers located in Switzerland and Germany are next, representing a further 11% each. 25% of GPs operating in the region come from the largest Southern-European countries of Spain, Portugal, Italy and Greece; while the Benelux region contributes 16% of total managers.

When looking at the infrastructure industry preferences of Continental Europe-based fund managers we see that 76% target opportunities in renewable energy, this high figure is unsurprising given the regions global prominence in this field. 56% of infrastructure GPs located in Continental Europe will seek investments in energy infrastructure, with 55% holding a preference for transportation assets and projects.

Key Continental Europe-based fund managers currently marketing an infrastructure fund include AXA Private Equity and Marguerite Adviser, who are each seeking to raise €1.5bn for investments throughout Europe. Other notable firms include Meridiam Infrastructure, raising a total of €1.795bn through two vehicles, and InfraMed Management which is seeking €1bn from one fund.

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