According to IREI’s FundTracker database, there are 217 infrastructure investment funds currently on offer. That is 18 percent more than at this time last year. Of those, 158 are closed-end, 53 are open-end, and six are semi-open, with an expectation they will close at some time, but not soon.

Seventeen of those closed-end funds were launched before 2016. With the average closed-end fund reaching a final closing in about 20 months, give or take a few weeks, it is unlikely that those 17 funds are actually being marketed. Although they have not officially reached a final close, most closed-end funds taking this long to complete fundraising simply are not resonating with investors.

If we assume those closed-end funds launched in 2015 or earlier are de facto off market, we have 141 closed-end funds currently soliciting commitments. That’s 31 more funds than at this time last year. These funds are seeking an aggregate total of at least $226.8 billion. Because FundTracke