European Infrastructure Fund Managers

by Louise Taggart

  • 19 Apr 2011
  • INF

Preqin is currently tracking 103 Europe-based infrastructure fund managers that are either currently raising an infrastructure fund or have raised a vehicle in the past.  89 infrastructure funds raised by European managers have held a final close, raising an aggregate €34.6bn. There are currently 64 unlisted infrastructure funds on the road managed by Europe-based GPs, seeking to raise €27.8bn.

63% of European GPs are first-time fund managers, while 24% have raised two vehicles, and 13% have raised three or more funds; there is clearly an abundance of first-time fund managers without a proven fundraising track record currently active in the unlisted infrastructure space.  The UK is the most prominent GP location within Europe, with 46% of infrastructure fund managers based there. French managers represent 10% of the total, followed by Germany and Switzerland each with 6%.

When looking at the investment preferences of European fund managers, the majority will target a diverse range of project stages within their portfolios. 66% of European infrastructure fund managers will invest in greenfield stage projects, a similar proportion will consider investing in brownfield stage projects, and 52% will invest in secondary stage projects.

Of the top five infrastructure fund managers based on aggregate capital raised, F2i SGR is the only firm not based in the UK. Innisfree tops the list having raised almost €2.5bn, followed by Arcus Infrastructure Partners and RREEF Infrastructure, both of which have attracted over €2bn in institutional investor capital.

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