Publications

- November 1, 2019: Vol. 12, Number 10

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Closing time: Several funds close after 18 months or more on the road

by Drew Campbell

According to IREI’s FundTracker database, infrastructure investment managers closed eight funds in third quarter 2019, raising more than $8.1 billion, based on preliminary data.

In third quarter 2018, 16 funds held final closings, raising nearly $40 billion. In second quarter 2019, nine funds were closed, raising nearly $16.3 billion.

Third-quarter fundraising marks the third consecutive quarter with a decline in total funds raised and the average fund size quarter-over-quarter. According to the FundTracker database, $8.18 million was raised in third quarter, with an average fund size of $1 million; $16.27 million was raised in second quarter with an average fund size of $1.8 million; and $19.35 million was raised in first quarter with an average fund size of $3.9 million.

Several funds closed during third quarter after having spent 18 months or more on the road, including Inspired Evolution’s Evolution Fund II, a closed-end fund investing in energy, power a

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