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Fundraising for unlisted, closed-end infrastructure hit a post-pandemic high of $162 billion last year, surpassing the $156 billion raised in 2021. That makes 2022 our second-best fundraising year, with 2019 taking the crown with $166 billion raised.
If you have been following our coverage, you will be aware that 2022 was notable for the close of four mega-funds from blue-chip managers Brookfield Asset Management, I Squared Capital, KKR and Stonepeak. Between them, the four GPs raised a whopping $61 billion, accounting for nearly 38 percent of all the capital amassed last year.
Last year was also notable for a surge in energy transition fundraising. That is in large part due to the $15 billion close of Brookfield’s Global Transition Fund, which helped the sub-sector make up 55 percent of all sector-specific fundraising in 2022.
Given our dramatically changed economic environment and the denominator effect that is tempering institutional interest in private markets, all eyes are on how 2023 will fare. That is especially pertinent given the record number of infrastructure funds in market, with 367 vehicles (up from 303 in Q3 2022) seeking some $282 billion (versus $200 billion in Q3). The top 10 funds in market – including flagships from Brookfield, EQT and Global Infrastructure Partners – are seeking to raise $121 billion alone.
Check out our interactive fundraising report above for the full breakdown of fundraising activity in 2022. You can also download the report as a PDF here and download the data here.