Fundraising for unlisted infrastructure funds remained strong in Q1 2014, with an aggregate $8.7bn raised, despite only five funds reaching a final close. This represents a decline from the $20.4bn raised in Q4 2013, but an increase on the $6.5bn and $3.8bn raised in Q2 and Q3 2013 respectively. With just fi ve funds holding closes in the quarter, it seems capital is increasingly becoming concentrated among fewer managers; in Q1 2014, the two largest funds, Energy Capital Partners III and LS Power Equity Partners III, attracted $5.1bn and $2.1bn in investor capital respectively.
With strong fundraising for unlisted infrastructure funds in recent years, dry powder available to unlisted infrastructure fund managers has reached an all-time high of $100bn as of March 2014. The majority of this (69%) is accounted for by funds of $1bn or more, again demonstrating the prominence of larger funds in the current infrastructure market.
Source : Preqin