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Infrastructure Fundraising Update – August 2013

by Stephen Yates

  • 09 Aug 2013
  • INF

So far in 2013, 20 infrastructure funds have reached a final close, having raised $15.6bn from investors .This figure represents a solid H1 in 2013 and is also likely to increase as more information comes to light in the coming months. Of the 20 unlisted infrastructure funds to have reached a final close so far in 2013, 10 focus on European infrastructure investments, one on North America, six within Asian and three in economies outside of these regions. The largest fund to close in 2013 to date is Macquarie European Infrastructure Fund IV which raised $3.57bn in investor commitments and targets economic infrastructure assets solely within Europe. Eighteen funds have held interim closes during 2013 raising $4.19bn in investor capital; nine of these were first closes, seven second closes and two third closes.

In terms of funds in market, as of August 2013 there are 152 infrastructure funds on the road seeking aggregate capital commitments of $96.9bn. Over half (51%) of these funds have successfully reached an interim close and begun putting capital to work, suggesting that the fundraising market remains buoyant. The majority (39%) of funds on the road are targeting European infrastructure, with North American-focused funds accounting for 26% of infrastructure funds in market. Thirteen percent seek to invest in Asian infrastructure assets while 22% are targeting Rest of World. Europe also remains the centre of the infrastructure universe in terms of capital sought, with European funds representing $38.4bn of the total investor commitments being targeted. Therefore, given the high number of funds on the road targeting Europe and the significant level of capital being targeted for investment in the region, it looks likely that Europe will remain the primary focus for the infrastructure sector in the closing stages of 2013 and the beginning of 2014.

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