Infrastructure development in Europe played a key role in the establishment of the global unlisted infrastructure asset class in the mid-1990s. It is therefore unsurprising that European infrastructure fundraising has grown rapidly in this period. Since 2004, 68 Europe-focused unlisted infrastructure funds have reached a final close raising $48 billion in total capital commitments. This is more than in both North America (43 funds raised) and Asia and Rest of World (54 funds raised), although North America-focused funds are more significant in terms of aggregate capital raised with $79 billion raised. 545 deals have been made by unlisted fund managers in European countries during this period representing 45% of total deals made. 28% of deals were made in North America and 27% in Asia and Rest of World.
Europe remains a significant region for infrastructure investment with 41 Europe-focused vehicles currently on the road targeting $29 billion. Although deal flow remains reduced due to the affects of the global financial crisis, 99 deals have been made in European countries in 2010 to date, representing 57% of total deals made. In 2010, 11 of the 22 funds to close target European infrastructure opportunities.
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