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Alternative Market Briefing

Unlisted infrastructure: 21 funds reach final close securing close to $17bn in Q1 2021

Monday, April 19, 2021

Laxman Pai, Opalesque Asia:

Fundraising activity in the unlisted infrastructure is off to a slow start at the beginning of the year. In Q1 2021, 21 funds reached the final close securing almost $17bn in commitments.

This down from 26 funds capturing close to $39bn in Q1 2020, said the Q1 2021 Infrastructure Quarterly Update from Preqin.

"The unlisted infrastructure industry has weathered a very challenging year coming into 2021, but we expect trend growth to return and rising inflation expectations to drive robust investor interest in the asset class. Although down compared to an unusually blockbuster Q1 2020, the first quarter of this year are not far off many quarterly totals achieved over the last five years," it said.

Besides, six funds closed above the $1bn mark in Q1 2021 highlighting ample investor demand. In response, fund managers continue to bring funds to market this year.

According to the report, there are a record 286 funds in the market looking to raise $235bn from global investors as of April 2021. Of the total funds currently in market, 26% have fundraising goals in of at least $1bn and these funds account for 73% of all capital targeted.

Meanwhile, unlisted infrastructure AUM reached $738bn as of September 2020 - a record amount. Secondaries now account for $13bn in industry AUM up from only $1bn in 2015 highlighting the growing importance of this strategy.

Deal activity slowed in Q1 2021 after achieving a steady recovery in 2......................

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