Global Infrastructure Partners (GIP) has finalised fundraising for the world’s largest unlisted infrastructure fund, with final close to be achieved in the coming days, according to two sources familiar.
The US-headquartered manager is set to hit its USD 22bn hard cap for its fourth flagship infrastructure fund, Global Infrastructure Partners IV (GIP IV), either later this week or early next, said the sources.
According to Acuris Funds data, this makes GIP IV the fifth-largest fund to be raised across the infrastructure and private equity sectors, trailing only the largest buyout funds raised by Blackstone Group, Apollo Global Management and Softbank’s USD 100bn technology fund.
The fund exceeds the previous record set in the infrastructure sector by the manager’s third global fund, which closed at USD 15.8bn in early 2017.
Fellow North American asset manager Brookfield Asset Management is also looking to round-out fundraising for its fourth infrastructure fund in the region of USD 22bn.