Preqin Investor Network currently tracks 60 infrastructure funds focused on emerging markets, seeking an aggregate total of $27.1bn and with an average size of $484mn. In terms of fund target size, the four largest infrastructure vehicles on the road focused on the region are looking for a total of $5.5bn which accounts for 20% of all capital being sought for by those funds. The largest of these vehicles is BTG Pactual Brazil Infrastructure Fund II, which is currently seeking $1.5bn to implement a primary strategy to invest in opportunities within South America.
2012 is proving a tough year for emerging market-focused fundraising, with only four vehicles reaching a final close so far this year. This is significantly lower than the 14 infrastructure vehicles focused on emerging markets which had closed by the same date in 2011. However, there is still fundraising activity within emerging markets, with Philippine Investment Alliance for Infrastructure holding a final close of $625mn earlier this year. The fund will make economic and social infrastructure investments within the Philippines, including distribution/storage facilities, education facilities, energy, roads, telecom, transportation, utilities and water.