The €1bn Marguerite III will look to attract more private institutional funding on top of its strong public investor base.
At $1.5bn, the fund’s target is twice that of its predecessor – Michael Bonte-Friedheim and Shane Swords explain why they believe bigger is better.
One year after the acquisition of AMP Capital’s infrastructure debt business, Ares Management has closed the fifth fund in the series – and its first infrastructure debt fund on $5bn, hailing it as the largest ever infrastructure debt fund.
This year has seen the energy transition go from being a good idea to becoming an irrefutable necessity and fund managers were quick to jump on the bandwagon.
This year’s volatility saw little effect on fundraising. That may come to change as a host of megafunds arrive in 2023.
Some 39% of all open-end fundraising took place in the last 18 months, with a record 20 funds launched by this half-year alone. We map out the market using data from bfinance.
Launched earlier this year, Macquarie Infrastructure Partners VI has raised about $4bn. Its predecessor closed on $6.9bn last August.
Blackstone Energy Transition Partners IV,, which has raised north of $1bn, is expected to reach its target and cap by the summer of 2023.
The GIG Energy Climate Opportunities vehicle is set to launch early next year, with an initial closing later in 2023.
Martin Bradley, head of EMEA, real assets, tells us Macquarie wanted to be ‘dominant’ in European utilities and doubts ‘anyone else will be able to build a portfolio like this’.