Global Infrastructure Partners, Macquarie Infrastructure & Real Assets and EQT are the most sought-after infrastructure fund managers on the secondary market, according to Setter Capital.
Four fund series received ‘excellent’ liquidity ratings – Global Infrastructure Partners (GIP), Macquarie European Infrastructure Funds, EQT Infrastructure and Macquarie Infrastructure Partners – reflecting the highest level of demand from prospective buyers.
In its latest report, ‘the 25 most sought-after managers on the secondary market’, Setter Capital also rated a number of fund series ‘very good’: Brookfield Infrastructure Funds, Antin Infrastructure Partners, ISQ Global Infrastructure Fund, Dutch Infrastructure Fund (DIF), North Haven Infrastructure Partners, Stonepeak Infrastructure Partners and KKR Energy & Infrastructure.
Setter Capital, which specialises in private equity, real estate and infrastructure ‘secondaries’, found that infrastructure funds were seeing more demand from secondary buyers than real estate funds.
There were no real estate fund series with excellent liquidity ratings and only three were rated very good: Blackstone Real Estate Partners, Blackstone Real Estate Partners Europe and Carlyle Realty Partners.
“There has been some pull-back from real estate buyers given the current environment and the uncertainty of where office and retail assets will trend over the next few years,” said Gareth Morris, senior member of the fund advisory team at Setter Capital.
“Also, the number of secondary buyers of infrastructure has grown relatively faster, a trend that started pre-COVID.
“Infrastructure assets – with the exception of transportation for the time being – are seen as more stable, which helps create a wider audience for secondary opportunities.”
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