Chart of the Week: Increasing Average Fund Size

The average size of unlisted infrastructure funds has been increasing since 2011.

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43 unlisted infrastructure funds reached final closes, raising a total of $43.4 billion in last three quarters. The average size of an unlisted vehicle that reached a final close in 2013 was $745.2 million, 55 percent higher than the $481.2 million average in 2012. The trend continues in Q3 2014 with the $1 billion average fund closed. The average size of unlisted infrastructure funds has been increasing since 2011.

The three largest funds closed in Q3 2014 were the $12.6 billion Global Strategic Investment Alliance (GSIA), the $3 billion Macquarie Infrastructure Partners III and the $1.33 billion McMorgan Infrastructure Fund I. The aggregated capital raised by these three funds accounted for 39 percent of total capital raised over the past three quarters.