• Assets under management for private infrastructure hit $1.6 trillion in H1 2025, comprising 10% of total private market assets
• Capital raising increased nearly 60% in 2025, establishing a new benchmark and bouncing back more robustly than other private asset categories
• Approximately 75% of funds raised in 2025 flowed to the 50 largest infrastructure funds, with nearly half directed to the top five managers
• Digital infrastructure now makes up nearly 20% of portfolio holdings, as data center demand and electricity limitations are transforming investment focus

(SeaPRwire) –   BOSTON, March 24, 2026 — Boston Consulting Group’s fifth yearly study on private infrastructure investment and strategy, titled Infrastructure Strategy 2026: A Year of Increasing Scale and Diversification, reveals the sector gaining renewed strength, with AUM hitting $1.6 trillion in H1 2025 and fundraising climbing nearly 60% annually. As the asset class expands, capital is pooling in the biggest platforms, while digital infrastructure and energy-related topics are powering an increasing portion of activity.

The examination covers capital raising, AUM, transaction volume, performance, and industry patterns throughout private infrastructure. It demonstrates that fundraising has recovered more vigorously than in other private asset categories, even as backers allocate a larger portion of commitments to the biggest and most varied managers.

“The private infrastructure sector has recovered its size, yet the market’s structure is evolving,” noted Wilhelm Schmundt, a report coauthor. “Investors maintain their support for this asset class seeking steady, dependable yields while funneling more money toward the largest managers.”

Capital returns, but concentration intensifies

With fundraising rebounding in 2025, limited partners channeled nearly 75% of capital into the 50 biggest infrastructure funds, while the leading five alone secured almost half. Backers also showed preference for core-plus and value-add approaches, which combined represented nearly 70% of newly raised funds, indicating increased appetite for higher risk in pursuit of greater gains.

That rebound stands in contrast to some other private asset classes, where fundraising remains below prior peaks.

Digital infrastructure moves closer to the center of the market

Digital infrastructure stands as the sole major segment to achieve substantial expansion over the past five years, now representing nearly 20% of all portfolio holdings, compared to 15% in 2020. Within this category, transaction activity is gravitating toward data centers, which made up 41% of digital transactions in 2025 versus 26% the previous year.

Electricity availability and lengthy grid connection schedules are becoming significant limiting factors for data center growth in primary markets. Consequently, development is expanding beyond Tier 1 sites into Tier 2 and Tier 3 areas, along with off-grid initiatives backed by proprietary power production.

Renewables lose share as the energy mix broadens

Within the energy and environmental sector, transaction count grew from 176 to 207 in 2025, though the makeup shifted dramatically. Processing and distribution climbed to 50% of deals, up from roughly one-third in 2024, while traditional energy services jumped to 18% from 10%. During the same timeframe, renewable energy declined to 22% of transactions from 42%.

Conventional wind and solar developments are encountering growing strain from elevated expenses, lower capture rates, and shifting political, financial, and regulatory backing across numerous nations. Simultaneously, surging power demand and grid constraints are heightening attention on traditional generation, energy services, and associated infrastructure linked to data center expansion.

“A distinct 2025 trend shows digital infrastructure becoming increasingly intertwined with energy planning,” stated Alex Wright, a report coauthor. “Electricity access, grid connections, and unified energy approaches are emerging as core considerations for investors evaluating data centers and related infrastructure prospects.”

Download the publication here:
https://www.bcg.com/publications/2026/year-of-increasing-scale-and-diversification

Media Contact:
Eric Gregoire
+1 617 850 3783
gregoire.eric@bcg.com

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SOURCE Boston Consulting Group (BCG)