Chart of the Week: BRICS Focused Funds

Fundraising for BRICS at 6-year peak

 

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Unlisted infrastructure fundraising for Brazil, Russia, India, China and South Africa (BRICS) hit 6-year high in 2013.

We see a steady upward trending of capital corralled for unlisted infrastructure in BRICS countries since year 2010. In 2013, there are 7 BRICS focused funds closed totalling over $4.5 billion, nearly 20% higher than the $3.8 billion in 2012, and over 2.5 times of that of 2010, which is the lowest level in last 6 years. 

FIP Sondas is the largest BRICS focused fund raised since 2008. Managed by Caixa Economica Federal, a Brazilian state-owned lender for water/waste management companies, house financing and urban infrastructure, the fund provides capital to the Brazilian oil operation company Sete Brasil. FIP Sondas closed in Q3 2012 at $2.7 billion. 

The largest fund closed in 2013 is the China Life Suzhou Urban Development Industrial Investment, a CNY10 billion vehicle co-launched by Suzhou International Development Venture Capital (SIDVC), Suzhou municipal government and China Life Insurance. Following is Brazilian BTG Pactual's second unlisted infrastructure fund which has reached $1.38 billion final closing by August 2013.