Bruno Alves
An inability to think long term has created a straitjacket that will be hard and costly to break out of.
The vehicle is targeting €1bn to focus on LP- and GP-led transactions as well as select co-investment opportunities.
Infra’s most promising sectors are about the future, forcing a reckoning for an asset class fixated on the built environment.
While open to nuance, investors are signalling what they want out of energy transition investing.
LP interest in the asset class continues to be high and there are tentative signs that the pace of fundraising is improving.
Only $112bn was raised by closed-end structures last year compared with a high of $172bn in 2022.
BlackRock’s $12.5bn acquisition of GIP takes consolidation to new heights, underlining infra’s skyrocketing popularity.
Generative AI is making data centres even more power hungry, putting the spotlight on their clean energy needs.
Energy transition funds were a bright spot, with products on offer increasingly capturing the sector’s depth.
With just over $82bn of unlisted, closed-end funds closed to date, you have to go back to 2015 for such a low tally.