Funds specialising in infrastructure asset investments have tripled in size since 2007, a survey by Deloitte suggests.
Growth – both in terms of assets under management and in the number of funds launched – has had a significant impact on the ability of infrastructure funds to raise new capital and to invest in existing committed capital.
New and existing fund managers are now competing for mandates from a more select investor pool.
Deloitte says it expects more consolidation in the infrastructure fund space, resulting in more highly-regarded asset management operations being created.
Fund managers who struggle to raise new funds are likely to become specialist asset managers, Deloitte says.
Deloitte surveyed more than 30 fund managers across Europe, many of whom manage or act on behalf of multiple European and global funds. Most told Deloitte they intend to focus their investment strategies in the transport and energy sectors with a preference for roads, rail, airports and ports, regulated gas, electricity and water utility assets.