After weak performance in the first half of 2014, global infrastructure fundraising is back in the fast lane in the third quarter with over $21 billion raised. On the top of the list is the Global Strategic Investment Alliance (GSIA) initiated by Ontario Municipal Employees Retirement Scheme (OMERS). The co-investment platform was closed at $12.6 billion with McMorgan Infrastructure Fund I joining as the last member. Though not a traditional investment vehicle, we have decided to include this giant in our fundraising stats due to its size and importance to the industry. Reinforced by the surge in Q3 fundraising, we are confident that the 2014 full year figure will beat 2013’s five-year peak.
In market, there are 211 unlisted infrastructure funds seeking a total of approximately $120 billion but blockbuster fundraising efforts are thin on the ground. Many fund managers are now eyeing on the debt market. India’s IL&FS is raising an infrastructure debt vehicle with a total size of approximately $5 billion. Global Infrastructure Partners has also made its debut in this area by launching a $2.5 billion Capital Solutions Fund.
Global infrastructure deal stats show a slight dip in both deal value and volume for the first three quarter of 2014 compared to the same period of 2013. The report will present you an up-to-date overall picture of the deal world.
The industry news section showcases recent people moves, investors’ investment appetites, together with recent examples of investors moving to directs, a trend which is likely to continue.
Every quarter, we are privileged to have a prominent institutional investor share exclusive insight with us. This quarter, we interviewed Mr. Hans-Martin Aerts, Head of Infrastructure Asia at APG Asset Management. Continue reading and you will find out where APG wants to invest next.