Saturday, March 30, 2024

"Infrastructure debt embraces fundraising boom"

From PitchBook, March 28:

Private credit lenders raising infrastructure debt funds had a stellar year for fundraising in 2023, underscoring the asset class’s growing popularity.

Last year, infrastructure debt funds that concluded fundraising collected $19.5 billion, the largest annual sum on record, according to PitchBook’s 2023 Annual Global Private Debt Report.

Infrastructure debt accounted for 10.2% of the total capital raised by private debt funds in 2023, a significant step-up from the previous year’s 3.8%, PitchBook data shows. This increase suggests private debt fund managers are expanding their offerings beyond the traditional focuses of direct lending and distressed investing.

Blackstone‘s $7.1 billion energy transition credit fund was the largest pool of capital closed last year under the infrastructure debt umbrella, according to PitchBook data.

Brookfield Asset Management wrapped up its latest infrastructure debt fund on more than $6 billion in November. The vehicle, dubbed Brookfield Infrastructure Debt Fund III, is dedicated to investing in the renewable power and data infrastructure sectors....


If interested, some of our previous posts are embedded in:
The Infrastructure Theme Is For Real (PWR)