Coming off the back of a slow fundraising year, money is starting to move again in 2025. The first couple months of the year was dotted by fund closures and commitments, setting a positive tone for the infrastructure asset class.

In February, Abrdn reported raising €585 million ($610 million) of commitments for its third core/core-plus infrastructure fund, Aberdeen Standard Core Infrastructure Fund III, (ASCI III). The strategy is focused on direct investments in European mid-market core and core-plus infrastructure opportunities. According to Abrdn’s website, the fund had a target of €1 billion ($1.04 billion).

Several funds in the debt space also concluded fundraising. HSBC Asset Management closed its Global Transition Infrastructure Debt fund after raising $612 million of commitments. The infrastructure debt fund invests in a diversified portfolio of loans (and other debt instruments) with infrastructure characteristics that contribute to greenhouse-gas emissi