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Fundraising
Infrastructure has played a prominent role in the growth and diversification of manager portfolios, with the top 10 GPs raising $934bn over the past decade.
The latest round of fundraising for the Super Core series follows on from the close of Series 1 on €2.5bn in June 2018.
The vehicle’s £1.25bn target is the same figure as the hard-cap of its predecessor fund, which closed in November 2017.
The Swiss fund manager has already deployed roughly €93m through SEEF II, a fund that could be double the size of its predecessor should it reach its €400m hard-cap.
The fund has already made three investments, including its first bioenergy deals since hiring a team from Foresight Group last year.
The fund is about 75% invested after an acquisition from KKR this week, but the firm is now working to ‘ensure sufficient capital is available' to keep investing.
Brookfield and GIP’s latest funds can hang comfortably with PE’s big boys. But despite infra’s long-term credentials, it’s PE firms that are amassing the largest amounts of perpetual capital.
In November, Washington State Investment Board committed $175m to the fund, with an additional $75m of co-investment capital.
The fund has sub-vehicles investing in asset classes such as PE, debt and infrastructure, each of which can commit 30% to secondaries.
The firm has already raised €500m from European investors and will now pitch the vehicle to Australian LPs.