Private Infrastructure AUM Hits $1.6T as Digital and Power Themes Reshape Investor Priorities
Event summary
- 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, with nearly three-quarters of capital raised going to the top 50 infrastructure funds.
- Digital infrastructure now accounts for almost 20% of portfolio companies, with data center demand driving 41% of digital deals in 2025.
- Renewables' share of energy deals fell to 22% in 2025 from 42% in 2024, as conventional energy services and processing/distribution rose.
The big picture
Private infrastructure is rebounding strongly, with 2025 fundraising outpacing other private asset classes. The market is becoming more concentrated among top managers, while digital infrastructure and power-related themes are driving a significant share of activity. Investors are increasingly linking digital infrastructure with energy strategy, reflecting broader trends in technology and energy demand.
What we're watching
- Capital Concentration
- Whether the top 50 infrastructure funds can sustain their dominance as capital continues to flow disproportionately to the largest managers.
- Digital-Power Nexus
- How power constraints and grid connectivity challenges will shape the future of data center investments and digital infrastructure growth.
- Energy Mix Evolution
- The pace at which conventional energy services and processing/distribution infrastructure will grow relative to renewables in the energy sector.
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