Global Infrastructure Fund Managers – February 2014

by Julia Goodall

  • 19 Feb 2014
  • INF

Many of the largest infrastructure fund managers raise funds which have a global focus, tailored toward a broad spectrum of investors that are seeking a geographically diverse infrastructure portfolio. Preqin is currently tracking 37 global infrastructure fund managers, the largest being Macquarie Infrastructure and Real Assets (MIRA), headquartered in the UK but with offices worldwide, which has raised a total of $28.1bn through its private equity infrastructure funds in the last 10 years. This is far ahead of the second two largest global infrastructure managers, US-based EIF Global Energy Partners and Global Infrastructure Partners, which have each raised $13.9bn in the same timeframe. Closely following is Canada-based Brookfield Asset Management, having raised $11.9bn in the past 10 years, and US firm Alinda Capital Partners, which has raised $7.1bn.

Since 2008, a total of 30 global-focused infrastructure funds have closed, and an aggregate $45.2bn has been raised. On trend with general infrastructure fundraising, global-focused funds struggled following the 2008 financial crisis, raising just $7.7bn from 2009-2011, significantly less than the $10.4bn raised in 2008 alone. 2012, however, saw fundraising pick up substantially, with global-focused funds having raised an aggregate $12.2bn. 2013 saw another record fundraising year, when five global-focused funds closed and raised a total of $14.9bn.

Looking at a breakdown of global infrastructure fund managers by firm location, over half (56%) are based in the US. A further 18% are located in the UK, meaning that these two countries make up over two-thirds of global fund managers worldwide. An additional 5% are based in Switzerland, 3% in Australia, and 18% are headquartered in countries elsewhere around the world.

Currently, there are 17 global-focused infrastructure funds on the road, seeking to raise an aggregate $12.3bn. The largest of these is Alinda Global Core Infrastructure Fund, which has a target size of $3bn. Morgan Stanley Infrastructure Partners II is seeking to raise $2.5bn, and ISQ Global Infrastructure Fund, a first-time infrastructure fund from US-based I Squared Capital, is targeting $2bn.

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