FUNDRAISING REPORT Q1 2020 Infrastructure Investor's interactive and downloadable review of the fundraising environment in the fi rst quarter Fundraising | Strategy Review | Geography Download data Bruno Alves Daniel Humphrey Rodriguez Graeme Kerr Infrastructure Investor Head of Fund Manager Research Special Projects Editor bruno.a@peimedia.com daniel.r@peimedia.com graeme.k@peimedia.com
Fundraising Year-on-year fundraising overview 120 The highest Q1 for fundraising by closed-end 110 infrastructure vehicles was heavily skewed by the close of Brookfield's mammoth $20 100 billion fourth fund. Excluding BIF IV would 90 have resulted in fundraising during Q1 2020 80 Capital raised ($bn) falling behind the equivalent period in 2019, 70 though it would still have been the third best Q1 since 2014. 60 50 The strong start to the year makes us optimistic that fundraising for 2020 could be 40 on a par with the previous two years. Of 30 course, caution surrounding covid-19 could 20 cause fundraising trends to change. 10 However, anecdotal evidence suggests the 0 big names in market – Stonepeak, Antin, Actis 2014 2015 2016 2017 2018 2019 2020 – at the time of writing this report should still Q1 Q2-Q4 be able to close. FUNDRAISING REPORT Download data Q1 2020
>> Fundraising Sector-speci fi c fundraising, Q1 2020 overview After a strong 2019 for digital infrastructure Capital raised and other sector-specific strategies, energy made a comeback in Q1, mostly due to strong $9.6bn fund closes from Energy Capital Partners and ArcLight Capital Partners. Funds closed However, it should be noted that this sector- 8 focused fundraising has occurred at a time in which the energy market is going through a substantial amount of volatility, hit by the double whammy of covid-19 and the Saudi oil price war. 0 10 20 30 40 50 60 70 80 90 100 % Energy and renewables Energy Utilities Renewables FUNDRAISING REPORT Download data Q1 2020
Largest fundraisers Five largest blind pools (excluding co-investment), Q1 2020 The dominance of Brook fi eld ’ s fourth fund Brook fi eld Infra Fund IV 20 over the rest of the top fi ve is outstanding. In fact, the four other largest funds together BlackRock Energy and Power Infra make up only 60 percent of the capital raised 3.5 III by Brook fi eld Infrastructure Fund IV. In line with the ongoing trend whereby larger ArcLight Energy Partners Fund VII 3.4 fi rms are dominating the market, the fi ve largest vehicles alone accounted for 72 percent of the total raised in Q1 2020. Energy Capital Partners Fund IV 3.3 iCON Infra Partners V 1.9 0 2 4 6 8 10 12 14 16 18 20 22 Capital raised ($bn) FUNDRAISING REPORT Download data Q1 2020
Geography Regional focus of capital, Q1 2020 35 32.6 Almost $45 billion was raised in Q1, but none of it was focused on developing markets. 30 We still don ’ t know how these markets are 25 Capital raised ($bn) being hit by covid-19. It will be interesting to see if this trend of reduced activity continues 20 over the coming months, with the pandemic reinforcing a tendency to focus on OECD 15 markets. 10 9 5 3.1 0 Multi-regional North America Europe FUNDRAISING REPORT Download data Q1 2020
>> Geography Regional focus of Europe funds in market as $42.0bn of 1 April North America $32.7bn Asia-Pacific 327 $17.6bn Total number of funds in market $150bn Sought for funds in market Multi-Regional Rest of $49.7bn the world $7.7bn FUNDRAISING REPORT Download data Q1 2020
Largest funds in market as of 1 April Fund Manager Target size ($bn) Stonepeak Infrastructure Fund IV Stonepeak Infrastructure Partners 10 Antin Infrastructure Partners IV Antin Infrastructure Partners 6.6 CICC Infrastructure Fund II China International Capital Corporation 4.2 Actis Energy 5 Actis 4 European Diversi fi ed Infrastructure Fund III (EDIF) First Sentier Investors 3.8 Patria Infrastructure Fund IV Patria Investments 2.8 DIF Infrastructure VI DIF Capital Partners 2.7 Pan-European Infrastructure III DWS 2.7 Global Renewable Power Fund III BlackRock 2.5 Circuitus Real Asset I Circuitus Capital 2.2 FUNDRAISING REPORT Download data Q1 2020
Other questions How can we help you? to which we also provided solutions How can PEI Media ’ s Research and Analytics team help you? “ I would like a list of all LPs in New York that Sample client case study would be interested in This quarter, we helped a capital advisory firm looking to increase its client base by committing to Europe- providing a list of funds in the early stages of fundraising. Alongside this, we also focused funds ” included a list of investors interested in the placement agent's markets of focus. Please get in touch with us if you would like to see a sample of this data. PEI Media ’ s Research and Analytics team is made up of researchers and analysts in London, New York and Hong Kong, working on a 24/5 cycle to perform bespoke research requests for you. We track the investment appetite and contact details of “ What fund management LPs and GPs within our fundraising data platform to help bring together fund fi rms are the most active in investors and managers with matching interests. the African investment space? ” Platinum subscribers should email daniel.r@peimedia.com for more information “ Could you please send me a on the research services available. list of all North American funds that have launched in the past year? ” For more information on becoming a Platinum level subscriber please contact: Avinash Mair in London Sigi Fung in Hong Kong Andre Anderson in New York on +44 (0) 207 566 5428 on +852 2153 3140 on +1 646 545 6296 or avinash.m@peimedia.com or sigi.f@peimedia.com or andre.a@peimedia
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