Chart of Week: Q3 2013 Infra Fundraising

 

Infrastructure Investor’s Research & Analytics team reports the latest infrastructure fundraising numbers for the third quarter of 2013.  Six funds held a final close raising a total of $3.1 billion. The only fund to collect over $1 billion worth of commitments was the Brazillian fund BTG Pactual Infraestrutura II. The fund surpassed its target and closed at $1.38 billion. However, in the third quarter of 2012 one fund, FIP Sondas, managed to exceed $2 billion closing at $2.7 billion. For that quarter, $5.2 billion worth of capital was raised with a total of seven fund closures in the third quarter of 2012.

 

Since the start of 2013, $19.7 billion has been collected from limited partners as 26 funds closed. Macquarie European Infrastructure Fund 4 (MEIF 4), EQT Infrastructure Fund II and AXA Infrastructure Fund III are the top three funds that have held a final close in 2013 to date. More than 40 percent of aggregate capital in 2013YTD was raised by the three funds with a sum of $8.26 billion. However for the same period in 2012, more funds closed but with less collected capital. 32 funds held a final close with only $13.5 billion capital raised. The aggregate of the top four funds in 2012 that held a final close over $1 billion, was valued at $6.16 billion.  

  

$28 billion was collected by fund managers in 2012. More than double the amount was raised in the fourth quarter of 2012 than from the first three quarters. The largest fund to close in 2012 turning out to be the largest ever, was Global Infrastructure Partners II (GIP II). GIPII collected $8.25 billion, $2.25 billion above its target, from limited partners worldwide and held a final close in October 2012. GIP II itself accounted for 29 percent of all capital raised in 2012. Many of the funds that have held interim closes in the third quarter of this year are already close to their target, and it seems likely that 2013 will surpass 2012’s fundraising figures.