According to the World Economic Forum, the world’s population will hit 9 billion by the year 2030. To support this population level, an estimated $5 trillion per year needs to be invested in global infrastructure. This is about $100 trillion over the next two decades.

Unfortunately, not all infrastructure needs are equal in the eyes of investors. While a growing population might need clean water and efficient transportation systems, investors are focused on energy — renewables, pipelines, grids and other power infrastructure. In the past three years, 57 percent of infrastructure activity, as measured by the launching and closing of funds, focused on energy infrastructure.

Even the remaining 43 percent was heavily influenced by energy. Diversified and Other funds come in second and third, respectively, behind energy-focused funds in both launched and closed funds for the past three years. When looked at closely, however, nearly all diversified funds have an energy c