Compared to 2009, Q1 2010 fundraising to-date has been relatively positive. In 2009, 18 unlisted infrastructure funds reached a final close, raising $7.2bn in capital commitments. This was considerably less than the $34.6bn raised by 39 funds in 2008. However, since the turn of the year, two infrastructure funds have closed raising an aggregate $5bn. This includes the $4.1bn closing of Alinda Infrastructure Fund II, a vehicle focused on greenfield and brownfield opportunities in Europe and North America. Its final close was well above the fund’s initial $3bn target.
Although fundraising conditions will continue to be tough in 2010, there are signs that the market is slowly improving. Many fund managers that postponed interim or final closes in 2009 are intending to hold them this year, showing good momentum within the market and a more positive fundraising outlook. Preqin is currently tracking a further three funds that have announced plans to hold a final close in either Q1 or Q2 2010, with an additional 21 funds looking to hold an interim close during the same period. Therefore 2010 fundraising levels look set to exceed those of 2009, showing increased investor and fund manager optimism within the infrastructure market.
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