Q3 fundraising signals a bumper Q4 on the way

The relatively lacklustre $49.5bn raised through the end of the third quarter is set to be overshadowed by the $40bn raised by GIP and Brookfield's latest flagships, putting 2019 on course to be a major fundraising year.

The unlisted infrastructure fundraising space is currently in a waiting game, with the two biggest fund closes of the year – Brookfield Infrastructure Fund IV and Global Infrastructure Partners IV, each set to raise about $20 billion – set to take place in Q4.

That is the inevitable shadow cast on our preliminary figures for the Infrastructure Investor Q3 2019 Fundraising Report, showing a total of $49.5 billion raised for the first nine months of the year. That figure is the third-poorest Q1-Q3 showing since 2013, but of course, it’s not an accurate predictor of where the unlisted fundraising year will end.

It’s also worth noting that, since our figures exclude open-ended fundraising, they do not count one of the biggest closes of the year: Blackstone‘s $14 billion haul for the first phase of its debut infrastructure vehicle.

Looking ahead, though, there is a lot of fundraising activity taking place – even excluding GIP and Brookfield‘s latest flagships – pointing the way to a bumper Q4. For example, it’s worth noting that the 10 largest funds in market, targeting an aggregate $72.8 billion, had raised $41.8 billion of institutional capital by 1 October through interim closes.

To find out more about these and other trends, be sure to check the full Infrastructure Investor Q3 2019 Fundraising Report, due to be published next week.