According to IREI’s FundTracker database, infrastructure fundraising in third quarter 2020 was on par with second quarter, with seven funds raising nearly $16 billion.

In second quarter, eight funds raised more than $13 billion. This comes after more than $80 billion was raised by 22 funds in fourth quarter 2019 and first quarter 2020 combined.

The average fund size closed in third quarter was nearly $2.3 billion compared with an average fund size closed in second quarter of $1.7 billion. This compares with an average fund size closed of $2.8 billion in first quarter and $5.1 billion in fourth quarter 2019.

During the quarter, Blackstone’s secondary and fund solutions business Strategic Partners completed a final close for its Strategic Partners Infrastructure III with $3.75 billion in capital commitments. An equity fundraising target was not disclosed.

Blackstone also announced during the quarter it would acquire a $1 billion infrastructure portfolio