According to IREI’s FundTracker database, there are currently 355 infrastructure investment funds, launched between Jan. 1, 2000, and Sept. 1, 2017, currently on offer. Approximately 10 percent of these funds are open-end, so you would expect them to have long tails and remain open for decades.
About 130 closed-end funds in the market have been launched since 2014, so those are still relatively healthy. But 193 additional closed-end funds — 54 percent of the total currently launched prior to 2014.
By comparison, the average time in the market for funds closing in the past three years has been someplace around 17.5 months, give or take a couple of weeks. 2015 was an outlier, with funds reaching a final closing that year taking only 15.4 months, on average, to reach their market cap.
The number of funds attempting to raise capital is spread relatively evenly among Europe, global and North American strategies, with 32 percent targeting Europe, 27 percent looking at capital globally, and 24 percent looking at North America. Nine percent of funds have a dedicated Asia Pacific strategy.
Targeted capital is not as evenly distributed. Forty-four percent of the capital being sought is for global strategies. Another 28 percent will be looking at North American investments. Europe is targeted by 21 percent of the capital being sought.
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