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Infrastructure fundraising starts 2020 where it left off in 2019: Managers close 14 funds in first quarter 2020
- June 1, 2020: Vol. 13, Number 6

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Infrastructure fundraising starts 2020 where it left off in 2019: Managers close 14 funds in first quarter 2020

by Drew Campbell

According to IREI’s FundTracker database, infrastructure fundraising in first quarter 2020 nearly matched fourth quarter 2019, with 14 funds raising more than $39 billion. In fourth quarter 2019, eight funds raised more than $41 billion.

The datapoints that jump out between the two quarters are that nearly twice the number of funds closed in first quarter 2020 but raised a similar amount of capital as was raised in fourth quarter 2019 — this could suggest a pause in the mega-fund trend. Of course, the timing of fund closings is somewhat arbitrary and comparing two quarters does not make a trend, but looking further back into quarterly fundraising does seem to show a tapering off of mega-fund dominance in the market.

Also noteworthy are the back-to-back quarters of record-high levels of capital-raising activity. Last year’s record fourth quarter total pushed 2019 to a record high of $85 billion. And nearly matching the fourth quarter volume in first quarter 2020 i

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