Private Infrastructure Assets Reach $1.6 Trillion

Fundraising rose 60% in 2025 as investors back largest infrastructure managers

Mar. 24, 2026 at 4:51am

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Private infrastructure assets under management reached $1.6 trillion in the first half of 2025, representing 10% of all private market assets. Fundraising rose almost 60% in 2025, setting a new record and recovering more strongly than other private asset classes. Nearly three-quarters of capital raised in 2025 went to the top 50 infrastructure funds, with close to half going to the top five.

Why it matters

The rebound in private infrastructure investing signals growing investor confidence in the asset class, which is seen as providing stable and reliable returns. However, the concentration of capital in the largest funds raises questions about the accessibility of infrastructure investments for smaller investors.

The details

Digital infrastructure now represents almost 20% of portfolio companies, up from 15% in 2020. Data centers accounted for 41% of digital deals in 2025, up from 26% a year earlier, as investors look to capitalize on rising electricity demand and grid constraints. Meanwhile, the energy mix is broadening, with processing and distribution deals rising to 50% of the total, while renewable energy deals fell to 22% from 42%.

  • Private infrastructure assets reached $1.6 trillion in the first half of 2025.
  • Fundraising rose almost 60% in 2025, setting a new record.

The players

Boston Consulting Group

A global management consulting firm that partnered with leaders in business and society to tackle their most important challenges and capture their greatest opportunities.

Wilhelm Schmundt

A coauthor of the report on private infrastructure investing and strategy.

Alex Wright

A coauthor of the report on private infrastructure investing and strategy.

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What they’re saying

“Private infrastructure has regained scale, but the shape of the market is changing. Investors continue to back the asset class for stable, reliable returns while directing more capital to the largest managers.”

— Wilhelm Schmundt, Coauthor of the report

“One clear trend in 2025 is that digital infrastructure is increasingly inseparable from energy strategy. Power availability, grid connectivity, and integrated energy solutions are becoming central to how investors assess data centers and related infrastructure opportunities.”

— Alex Wright, Coauthor of the report

The takeaway

The rebound in private infrastructure investing highlights the asset class's appeal for stable, reliable returns, but also raises concerns about the growing concentration of capital in the largest funds, potentially limiting access for smaller investors. The shift towards digital infrastructure and the evolving energy mix are shaping investment priorities in the sector.