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Alternative Market Briefing

The number of global unlisted infrastructure funds hits a record of 328 targeting $238bn of capital in 2Q

Monday, July 12, 2021

Laxman Pai, Opalesque Asia:

A record 328 global unlisted infrastructure funds are currently in the market globally, targeting $238bn of capital, said a study.

According to the Q2 2021 Infrastructure Quarterly Report published by Preqin, the number of unlisted infrastructure funds is up by almost a quarter (23%) at the start of last year, suggesting managers could be responding to investors' increasing focus on investments which can provide some form of inflation protection.

The report also found that fundraising reached $31.8bn in Q2 2021 - the highest since Q1 2020 and higher than the $24.5bn quarterly average since Q1 2016.

Despite this, the number of transactions fell by 41% from Q1 2021 (558) to Q2 2021 (332) - the slowest quarter in the past five years. Average quarterly deal numbers and average aggregate deal values also represented a sharp fall in activity in the last quarter.

Aggregate deal values reached $98bn in Q2 2021 - the highest since Q4 2019, when deal values hit $163bn, said the report.

Meanwhile, aggregate capital targeted as of June 2021 is up by almost a fifth (18%) on the start of last year, whilst the average size of closed funds hit a new quarterly high of $1.7bn in Q2.

Europe was the dominant region in Q2 2021, securing $19.6bn, across 11 funds closed, Preqin said.

Dave Lowery, Head of Research Insights at Preqin, said: "The first half of 2021 has seen the infrastructure fundraising market settle into a steadier state fo......................

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