Infrastructure is attracting capital from investors around the world, drawn by its ability to deliver returns across the cycle. This capital flow is creating opportunities to invest in an increasingly diverse opportunity set, both with respect to sectors and geographies. We believe the European infrastructure market continues to present an attractive exposure for investors, even when compared with markets offering attractive financial incentives, such as those available under the Inflation Reduction Act (IRA) in the United States. Europe, as a region for infrastructure investment, offers a range of compelling investment drivers:

A broader opportunity set to help achieve diversification. Europe allows for greater geographical diversification, with each market able to pursue its own fiscal expenditure and r