The infra elite Seven of the top 10 also formed the list last year, with Stonepeak, I Squared and Ardian joining the ranks The growth of the II 50 since expansion Top 50 at a glance 400 1-10 11-20 21-30 31-40 41-50 380 360 MIRA $55.53bn 340 Brook fi eld $27.69bn 320 GIP $26bn 300 KKR $18.65bn 280 IFM $17.70bn 260 Stonepeak $14.94bn 240 220 I Squared $12bn 200 First State $11.12bn 180 Ardian $10.65bn 160 Energy Capital Partners $10.55bn 140 0 10 20 30 40 50 60 II 30 2014 II 30 2015 2016 2017 2018 Funds raised ($bn)
MIRA now accounts for 14.4% of the entire ranking, and has amassed more than twice the $27.7 billion raised by Brookfield Asset Management, which sits at number two – no mean feat.
The indefatigable force MIRA has topped our rankings every year, although the total was significantly increased this year. Brookfield has been runner-up to MIRA in each of the past five years, with the gap rising for the second year running Mind the gap The rise and rise of MIRA 40 28 55 35 24.5 50 Funds raised by Brook fi eld ($bn) 30 21 funds raised ($bn) 45 Gap to MIRA ($bn) 25 17.5 20 14 40 15 10.5 35 10 7 30 5 3.5 0 0 2014 2015 2016 2017 2018 2014 2015 2016 2017 2018 MIRA Funds raised by Brook fi eld ($bn) Gap to MIRA ($bn)
WHO'S NEW? WHO'S GREW? This year's edition brought nine new managers to the ranking, compared with seven in our 2017 version Welcome to the club Infra's risers and fallers 5.5 Infracapital 5.0 A rise from 37th to 19th after raising both its green fi eld fund and third core fund 4.5 Sunvision Capital 4.0 The Chinese PPP investor powered up to 29th from 47th 3.5 Carlyle 3.0 The US major was propelled 17 spots after raising a series of energy funds 2.5 2.0 1.5 Meridiam 1.0 $5.04bn $3.84bn $3.49bn $3.30bn $3.30bn $2.33bn $2.11bn $1.98bn The French fund manager fell 15 spots to 37th after a seven-place rise last year $5bn 0.5 0 Equis F2i Blackstone Greencoat Capital DWS Capital Dynamics Digital Colony Aviva Investors Basalt Infrastructure Partners 3i Group The Singaporean out fi t dropped 14 places, although plans are under way for a new fundraising Oaktree A nine-spot fall came amid the dropping of its energy fund
WHERE IN THE WORLD? The US and UK account for just over half of manager origins, both in terms of funds raised and the number of managers Managers per continent The origins of capital Europe North America Asia Oceania
FINDING A NICHE Nine of the II 50 focus on a specific sector, boosted by the new additions of Greencoat, Capital Dynamics and Digital Colony 30 25 20 Funds raised ($bn) 15 10 5 0 Energy Renewables only Digital PPPs
Digital Colony is in a unique position with its sole focus on the burgeoning data centre and telecoms market, but the growing number of renewables-dedicated managers hints at growing segmentation of the asset class. Expect future editions of this ranking to feature more single-sector managers.
This report was compiled from data collected for PEI's Infrastructure Investor 50 supplement published in October 2018. Bruno Alves Senior Editor Infrastructure Investor bruno.a@peimedia.com +44 207 167 2031 Zak Bentley Senior reporter Infrastructure Investor zak.b@peimedia.com +44 20 3862 7497 Patrick O'Donnell Production Editor Infrastructure Investor patrick.o@peimedia.com +44 20 566 5465 Design: Carmen Graham
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