Global Infrastructure Fundraising Update – August 2012

by John Mather

  • 29 Aug 2012
  • INF

Preqin Investor Network currently tracks 145 unlisted infrastructure vehicles directly targeting assets (rather than other funds) that are in market; these funds have an aggregate target of $91bn and an average fund size of $630mn.

A regional breakdown reveals that while the majority of these funds are Rest of World-focused, Europe-focused vehicles are targeting the largest pool of capital. There are 54 Europe-focused unlisted infrastructure funds targeting an aggregate $36bn in capital commitments; a further 31 funds are North America-focused with an aggregate target size of $26bn. The remaining 60 unlisted infrastructure funds in market (which do not have a primary focus of Europe or North America) are seeking an aggregate $29bn.

Of these 145 funds, 127 are primary funds targeting equity positions and 18 have debt/mezzanine strategies. Fifty-two percent of these vehicles have not yet reached a first close, while 36% have reached a first close, 8% a second close, and 5% a third close or more.

Currently the largest unlisted infrastructure fund on the road is Global Infrastructure Partners II, which recently held a third close on $7.5bn. The second largest in market, Alinda Global Core Infrastructure Fund, is seeking $3bn and has yet to reach a first close. There have been 20 direct infrastructure funds that have closed so far in 2012, raising a total of $9.9bn in capital commitments.

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