Mega funds roar late in the cycle

06 November 2019 - 12:00 am UTC

The amount raised by closed-ended, unlisted infrastructure and renewable funds in the third quarter of 2019 is the lowest in six years. But looking across year-to-date reveals a far more bullish overall figure, driven by supersized funds regenerating and platform extensions, reports Pablo Martinez

Taking final close figures as the primary metric of a healthy fundraising environment, 2019 has so far been comparatively weak as the market enters the final quarter.

In the first three quarters of the year, USD 41.9bn has reached final close from 24 funds, compared to USD 57.5bn raised by 35 funds during the same period last year. In 2017, 32 funds raised USD 44.2bn.

This year-on-year downward trend has been concentrated in the third quarter of 2019, with just USD 9.5bn raised at final close by nine funds – more than three times less than the amount raised by 12 funds in 3Q18 (USD 30.14bn), according to Inframation data.

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