TOP 10 LARGEST INFRASTRUCTURE FUND MANAGERS
| Rank | Fund Manager | Headquarters | Capital raised ($m) |
|---|---|---|---|
| 1 | Global Infrastructure Partners, a part of BlackRock | New York | 113,796 |
| 2 | Brookfield Asset Management | Toronto | 99,147 |
| 3 | KKR | New York | 82,589 |
| 4 | Macquarie Asset Management | London | 80,430 |
| 5 | EQT | Stockholm | 58,709 |
| 6 | DigitalBridge | Boca Raton | 50,072 |
| 7 | Stonepeak | New York | 47,809 |
| 8 | Blackstone | New York | 44,333 |
| 9 | Antin Infrastructure Partners | Paris | 27,228 |
| 10 | Copenhagen Infrastructure Partners | Copenhagen | 24,900 |
INSIDE THE II 100
LISTEN NOW
INFRASTRUCTURE INVESTOR 100 | METHODOLOGY
The 2024 II 100 ranking is based on the amount of infrastructure direct investment capital raised by firms between 1 January 2019 and 31 August 2024.
Infrastructure
The definition of infrastructure investing, for the purposes of the Infrastructure Investor 100, means committing equity capital toward tangible, physical assets, whether existing (brownfield) or development-phase (greenfield) that are expected to exhibit stable, predictable cashflows over a long-term investment horizon.
The investors need not seek to own the assets in perpetuity and may exit them, realising a capital gain and generating an internal rate of return for themselves or their end-investors. However, they must primarily dedicate their investment programmes towards the pursuit of assets and projects that exhibit cashflow stability and predictability, and cannot be counted if they have made large one-off investments in the asset class on an opportunistic basis.
There will certainly be grey areas with regard to these parameters, but Infrastructure Investor will take pains to ensure that the capital counted for the purposes of the ranking will fall within our definition of infrastructure to the furthest extent possible.
Capital raised
This means capital definitively committed to an infrastructure direct investment programme. In the case of a fundraising, it means the fund has had a final or official interim close after 1 January 2019. The full amount of a fund counts if it has a close after this date. The full amount of an interim close (a real one, not a ‘soft-circle’) that has occurred recently, even if no official announcement has been made, also counts. We also count capital raised through co-investment vehicles. We only count vehicles for which the manager has full discretion over investment decisions; all capital must be committed by institutional investors.
Structures:
• Limited partnerships
• Open-end vehicles (capital must be raised within the specified dates)
• Co-investment funds
• Separate accounts
• Capital raised by infrastructure managers that happen to be publicly traded
• Seed capital and GP commitment
Strategies:
• Core
• Core-plus
• Value-add
• Opportunistic
• Existing assets (brownfield), development-phase assets (greenfield) or a mix of both
• Expected capital commitments
• Contributions from sponsoring entities
• Capital raised for funds of funds
INFRASTRUCTURE INVESTOR 100 | RANKING ARCHIVE
LATEST HEADLINES
Australian regulator finds ‘weaknesses’ in superfund unlisted valuation processes
APRA said that superfund trustees ‘have work to do’ to improve their processes, with enforcement action possible for underperformers.
Infra investors victorious as New York renewables auction draws high prices
New York awarded contracts for 23 renewable projects with a weighted average strike price of $94.73 per MWh, in an auction dominated by infra investors.
Antin raises biggest fund of the year with €10.2bn Fund V
The above-target close attracted more than 120 new LPs, with the fifth flagship over 50% larger than its predecessor.
Australian superannuation remains as political as ever
Rows over the purpose and conduct of superannuation funds in Australia have existed for as long as the current system has – and recent actions by the treasurer risk opening a new front.
Morrison’s James Shaw: Investment second only to politics for climate impact
New Zealand's former climate change minister wants to deliver 150m tonnes of carbon reductions by 2030 – an amount equal to NZ’s contribution under the Paris Agreement.
OTHER RANKINGS
In addition to the Infrastructure Investor 100, Infrastructure Investor compiles other infrastructure investing rankings.
What’s more, our affiliate titles also produce their own industry rankings covering private equity, private debt, and private real estate.
To view the latest rankings from Infrastructure Investor, plus those from Private Debt Investor, Private Equity International and PERE, simply navigate through the sections below:
SEEN OUR DATABASE
Infrastructure Investor’s comprehensive database is full of intelligence relating to funds being raised worldwide, with key information on target sizes and strategies used.
Track investment appetite and access contact details of over 4,000 fund managers and investors, helping to bring together investors and managers with matching interests.
