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Alternative Market Briefing

Unlisted natural resources: 30 funds reach the final close in Q1 2021, securing $20bn, up 26% from the previous quarter

Tuesday, April 20, 2021

Laxman Pai, Opalesque Asia:

Unlisted natural resources fundraising recovered notably in the first quarter with aggregate capital raised hitting $20bn in Q1 2021, up 26% on the previous quarter, said Preqin.

However, compared to an unusually robust $46bn secured by fund managers in Q1 2020 fundraising activity is significantly down year-on-year.

According to Q1 2021, Natural Resources Quarterly Update from Preqin, n, only 30 funds reached a final close in the first quarter. This modest showing of completed fundraisings is down 9% compared to the same time last year, highlighting the slow nature of the recovery.

A near-record 373 funds are in the market targeting $201bn in commitments from investors as of April 2021, just shy of the 383 funds at the start of the year.

Capital consolidation among the largest fundraisers could be slowing or even reversing. almost three-quarters of investors are keen to make smaller investments of less than $100mn over the next 12 months, said the report.

Meanwhile, unlisted natural resources fund managers saw industry assets under management march slowly upward to a record $925bn as of September 2020. Although impressive, the increase has been far from easy.

According to the report, the economic challenges brought on by the pandemic last year are still being felt by the asset class at the start of 2021. Coming out of a year defined by falling valuations, commodity volatility, and less-than-stellar performance continuing headw......................

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