UK-Based Infrastructure Fund Managers

by Elliot Bradbrook

  • 16 Aug 2011
  • INF

Preqin is currently tracking 47 UK-based infrastructure fund managers that are either currently raising an infrastructure fund or have done so in the past.  46 unlisted closed-end unlisted infrastructure funds have been raised by UK fund managers, raising an aggregate $22.7bn.  There are currently 31 unlisted infrastructure funds on the road managed by UK-based GPs targeting a further $15.9bn.

63% of UK-based GPs are first-time fund managers, while 26% have raised two vehicles, and 11% have raised three or more funds.  This illustrates the abundance of first-time fund managers without a proven fundraising track record that are currently active in the unlisted infrastructure space.  Europe is the most prominent primary focus of infrastructure funds managed by fund managers based in the UK, with 84% of funds investing in European assets.  14% of funds managed by UK-based GPs invest primarily in Asia and Rest of World, while 2% invest primarily in North America.

The majority of UK fund managers will target a range of project stages within their portfolios. 66% of UK-based infrastructure fund managers will invest in greenfield stage projects, and 74% will consider investing in brownfield assets.  51% will invest in more mature secondary stage projects.

Innisfree is a significant UK-based infrastructure fund manager, having raised over £1.5bn in institutional investor capital through seven infrastructure funds, one of which is currently raising capital.  Other significant UK fund managers include RREEF Infrastructure and Barclays Infrastructure Funds.

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