Infrastructure has become a popular destination for investors in recent years, with a growing need for defensive investments that can help protect against inflation, and infrastructure policy in the United States and elsewhere that is inviting investment.

Last year’s strong totals for infrastructure fundraising highlight this point. The asset class is in demand. Investors new to infrastructure are allocating to the asset class, and the investment opportunities are evolving along with economic and societal needs. As UBS notes in its report, Lessons learned for 2023: Paving the way for 2023, “The resilience of private infrastructure in previous cycles, including the COVID-19 economic shock, has strengthened the asset class’s safe-haven status. Strong performance this year has further highlighted its resilience during periods of high inflation. We also saw record infrastructure capital raised in 2022.”

With interest growing and the market evolving, invest