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Alternative Market Briefing

2018 saw record fundraising in unlisted infrastructure industry

Monday, February 25, 2019

Laxman Pai, Opalesque Asia:

The unlisted infrastructure had a strong 2018, as funds secured a record amount of capital and assets under management (AuM) hit an all-time high of $491bn.

According to 2019 Preqin Global Infrastructure Report, this growth does not look set to slow in 2019: a large proportion of investors are planning to increase their allocation to the asset class, and while distributions to investors have been strong and growing, they have not exceeded capital calls - signs that the industry has room to grow.

Seeking to capitalise on this potential, there are a record number of fund managers bringing funds to market at the start of 2019, targeting a record amount of capital, it said.

"Looking ahead, the industry is facing challenges posed by increased competition and higher asset valuations. Investors are looking towards higher-risk, higher-return strategies in search of yield, and fund managers report that asset pricing is higher and opportunities are harder to find," said the report.

"Unlisted infrastructure had a strong 2018: the year saw all-time highs in fundraising, assets under management and funds coming to market. However, as the space becomes ever more crowded, there are growing concerns over competition and deal valuations," said Patrick Adefuye, Head of Real Assets, Preqin.

He added: "To combat this, investors are moving their gaze towards higher-risk, higher-return strategies in search of the returns the......................

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