The latest Infrastructure Investor debt fund ranking – the Infrastructure Debt 30 – reveals that the 30 top debt fund managers raised more than $172 billion between them from 1 January 2018 until 31 August 2023.
TOP 10 INFRASTRUCTURE DEBT FUND MANAGERS
The Infrastructure Debt 30 is led by BlackRock, which raised almost $18.6 billion, while the leading new entrant was Blackstone after it closed its third transition-focused credit fund on more than $7 billion.
Rank | Manager | Headquarters | Capital raised ($m) |
---|---|---|---|
1 | BlackRock | New York | 18,590 |
2 | Ares Management | Los Angeles | 13,596 |
3 | Macquarie Asset Management | Sydney | 12,779 |
4 | AXA IM Alts | Paris | 11,217 |
5 | Infranity | Paris | 10,117 |
6 | EIG | Washington, DC | 10,072 |
7 | Allianz Global Investors | Frankfurt | 10,056 |
8 | Barings | Charlotte | 9,325 |
9 | Brookfield Asset Management | Toronto | 8,464 |
10 | Blackstone | New York | 7,100 |
INSIDE THE INFRASTRUCTURE DEBT 30
Infrastructure Investor Debt 30: The biggest and the best
EXPLORE THE RANKING
Infrastructure Investor Debt 30 2024
Infrastructure Investor Debt 30 2024: Ranking 11-20
Infrastructure Investor Debt 30 2024: Ranking 21-30
METHODOLOGY
The 2024 Infrastructure Investor Debt ranking is based on the amount of direct infrastructure debt investment capital raised by firms between 1 January 2018 and 31 August 2023.
Where two firms have raised the same amount of capital over this time period, the higher II Debt ranking rank goes to the firm with the largest active pool of capital raised since 2017 (ie, the biggest single fund). If there is still a ‘tie’ after taking into account the size of a single fund, we give greater weight to the firm that has raised the most capital within the past one or two years.
We give highest priority to information that we receive from or confirm with the infrastructure managers themselves. When firms confirm details, we seek to ‘trust but verify’. Some details simply cannot be verified by us, and in these cases we defer to the honour system. In order to encourage co-operation from infrastructure firms that might make the II Debt ranking, we do not disclose which firms have aided us on background and which have not. Lacking confirmation of details from the firms themselves, we seek to corroborate information using firms’ websites, press releases, limited partner disclosures, etc.
- Structures
- Limited partnerships
- Open-ended 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
- Debt strategies
- Mezzanine funds
- Financing of existing assets (brownfield), development-phase assets (greenfield) or a mix of both
- Expected capital commitments
- Public funds
- Contributions from sponsoring entities
- Capital raised for funds of funds
- Capital raised for infrastructure funds that seek to own assets for a period of time
- Secondaries vehicles
- Real estate funds
- Private equity funds
- Equity funds: core, core-plus, value-add, opportunistic
- Hedge funds
- Capital raised on a deal-by-deal basis
- Leverage
- PIPE investments
PREVIOUS RANKINGS
II Debt 20: Meet the world’s top infra debt fundraisers – updated
Meet the top 15 infra debt fundraisers
The world’s 10 largest infra debt managers
LATEST HEADLINES
The Pipeline: Allianz’s €533m first close, Ofwat’s festive cheer, GIC and MEAG’s €1.4bn data centre foray
Investors alive to hazards ahead
KGI Life commits $40m to KKR fund
Australian regulator finds ‘weaknesses’ in superfund unlisted valuation processes
Infra investors victorious as New York renewables auction draws high prices
OTHER RANKINGS
In addition to the Infrastructure Debt 30, Infrastructure Investor also compile other infrastructure investing rankings.
What’s more, our sister 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.