Infrastructure Strategic Outlook H2 2025

Our infrastructure equity strategies are offered by InfraRed Capital Partners (Infrared), a leading global infrastructure asset manager serving clients for more than 25 years. InfraRed invests in infrastructure that is essential to the functioning of societies, from wind farms and data centers to social housing and ferries.

Adapting to shifting global trade dynamics

Over the past six months, there’s a clear sense that we’ve entered a new phase in the geopolitical and policy landscape — one that brings a fresh layer of uncertainty but also opens the door to new infrastructure opportunities.

Explore our latest strategic outlook with views and analysis to help guide you in this rapidly evolving landscape. Key topics covered include:

• Valuation and return expectations — which appear to have found an equilibrium, creating potentially attractive entry points.
• Infrastructure deal volume — which continues to rebound, with digital and energy transition deals dominating; however, some sectors are particularly exposed to trade volatility.
• Infrastructure allocations — which are shifting with a tilt towards global portfolios, now somewhat favouring Europe. North America, nevertheless, remains a key market.

Important Information 

InfraRed has based this document on information obtained from sources it believes to be reliable, but which have not been independently verified. All charts and graphs are from publicly available sources or proprietary data. Except in the case of fraudulent misrepresentation, InfraRed makes no representation or warranty (express or implied) of any nature or accepts any responsibility or liability of any kind for the accuracy or sufficiency of any information, statement, assumption or projection in this document, or for any loss or damage (whether direct, indirect, consequential or other) arising out of reliance upon this document. InfraRed is under no obligation to keep current the information contained in this document. 

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