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Alternative Market Briefing

Infrastructure funds raise $8.4bn in Q3 in dramatic fall from record $44bn in Q3 of 2018

Tuesday, October 15, 2019

Laxman Pai, Opalesque Asia:

Infrastructure fundraising experienced a dramatic slowdown in Q3 2019 compared to the preceding quarter, Preqin data showed.

While 19 funds reached a final close, they secured only $8.4bn collectively, the lowest quarterly figure since Q2 2016. However, across the whole fundraising market, more than $15bn was raised in Q3 2019 by funds holding interim closes.

Only six North America- and five Europe-focused funds held a final close in Q3, raising a combined $2.6bn and $2.3bn respectively.

Just one Asia-focused fund closed, raising $500mn. By contrast, seven funds closed targeting the Rest of World, raising a combined $3.1bn.

More than four out of five funds closed so far this year (83%) were in the market for less than two years, demonstrating the continued institutional demand for infrastructure.

2019 has seen a smaller proportion of funds on the road for more than 25 months, at 17% compared to 23% for 2018.

The involvement of fund managers and investors alike in the non-core segments of the market is demonstrated by the dominance of value-added and opportunistic strategy funds, which raised $2.4bn and $2.3bn respectively, comprising 57% of total capital raised.

241 funds on the road as of the start of Q4

There are a record of 241 funds on the road as of the start of Q4, targeting a combined $200bn in investor commitments.

With total capital targeted up 5% from the start of Q3, it is clear that fund......................

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