Publications

- March 1, 2021: Vol. 14, Number 3

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Q4 infrastructure fundraising falls short: Capital raising during the quarter is less than the same period a year ago

by Drew Campbell

According to IREI’s FundTracker database, infrastructure fundraising in fourth quarter lagged third quarter. By the end of the quarter, 12 funds had raised more than $15.7 billion in equity capital. In third quarter, $15.9 billion was raised through seven fund closings. But fourth quarter 2020 fundraising was far short of the $41.1 billion raised a year ago in fourth quarter 2019.

The megafund trend, meanwhile, also continued in 2020. Nine funds have closed totaling $3 billion or more, including Antin IP’s Antin Infrastructure Partners IV ($7.6 billion) and Brookfield Asset Management’s Brookfield Infrastructure Fund IV ($20.0 billion).

In 2019, seven fund managers closed funds with more than $3 billion, including Goldman Sach’s $22.0 billion Global Infrastructure Partners IV fund, which closed in fourth quarter 2019, and EQT Partners EQT Infrastructure Fund IV, which closed in first quarter 2019 with more than $10.1 billion raised.

Smaller funds also cl

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