Private equity infrastructure fundraising finished 2025 on a high note. And not just any high note. A Mariah Carey four-octave high note. According to Institutional Real Estate, Inc.’s infrastructure database, 15 infrastructure funds reached a final closing with an aggregate total of $72.8 billion in fourth quarter 2025, bringing the total for the year to a record-breaking, record-shattering $217.2 billion.
Fourth quarter 2025 saw a wide range of fund sizes, with two funds closing with less than $150 million (one with only $68 million), and the rest more than $1 billion in size. Five funds closed with more than $5 billion, accounting for 79 percent of the capital raised. The largest fund to close this quarter was the $20 billion Brookfield Global Transition Fund II, which is focused on energy and renewable power generation in North America and Europe. Ardian’s global Infrastructure Fund VI closed with $13.8 billion to invest in transportation, energy, utilities and renewa
