The unlisted infrastructure fund market targeting Germany, either solely or as part of a wider geographic focus, remains relatively small, with data from Preqin’s Infrastructure Online service revealing only 18 unlisted vehicles have reached a final close since 2010. Fundraising has declined from six funds closing in 2013 raising an aggregate EUR2.7 billion, to three funds closing last year raising EUR700 million; so far this year there have been no unlisted infrastructure funds closed targeting Germany. 

The largest Germany-focused fund closed since 2013 is AXA Infrastructure Generation III, managed by France-based Ardian; the fund raised EUR1.5 billion for investments in infrastructure entities whose main purposes are to finance, build, operate, maintain, refurbish or develop infrastructure projects located in European countries.

Read the full factsheet here, containing more analysis alongside charts and tables featuring the latest Preqin data.