The number of unlisted infrastructure funds closed in 2016 declined 27% from 2015 to 51 funds from 70, while the aggregate amount of capital raised increased $14.1 billion over the prior year. Regionally, the majority of the capital raised was by funds investing in North America. Dry powder, cash held by funds for future investment, increased by $29 billion 2015 to $137 billion. It was the largest increase in cash reserves since 2013 when it jumped $35 million.
Brookfield Asset Management’s Infrastructure Fund III was the largest fund to close in 2016, at $14 billion. The Canada-based fund will focus on clean energy, logistics and transportation.