With Intelligence 2026 Infrastructure Outlook Charts the Major Trends Driving Fundraising Surge
LONDON, UNITED KINGDOM, February 24, 2026 /EINPresswire.com/ — In the span of just two years, fundraising for infrastructure-related investments has swung from a record low to a record high, with no signs of slowing anytime soon. According to the Infrastructure Outlook 2026 from With Intelligence by S&P Global, released today, a combination of rapid-fire data center expansion and the ongoing energy transition have fueled a massive surge in fundraising, increased competition for capital, and a flurry of new managers entering the market. With Intelligence estimates that $474bn is currently being sought by closed-ended infrastructure funds globally.
“Infrastructure is set for another year of sustained momentum, following a strong rebound in fundraising in 2025, which more than doubled the previous year’s total,” said Viola Caon, global infrastructure research lead at With Intelligence. “A confluence of megatrends, including AI-driven data center expansion and energy transition, are helping to drive this growth, but we’re also seeing increased interest in infrastructure investments as source of liquidity and portfolio protection amid market volatility.”
Following are some of the highlights in the With Intelligence Infrastructure Outlook 2026:
• Infrastructure Funds Currently Seeking $474bn: Infrastructure fundraising set a record in 2025, reaching more than $250bn for the year. This followed a six-year record-low of just $99bn raised in 2024. With Intelligence estimates that $474bn is currently being sought by closed-ended infrastructure funds globally, with $143bn attributable to the top 10 managers.
• Data Center Exposure Dominates: Data centers have been a bright spot in real asset capital raising in recent years, with general and limited partners seeking to capitalize on the AI boom and demand for physical assets. Since 2020, With Intelligence has tracked 144 real asset funds exposed to data centers, targeting nearly $200bn. A record 604 data centers were built in 2024 alone. Energy transition is another major theme driving infrastructure investment, with $3bn in fund mandates launched in 2025.
• Secondaries Growth Boosts Asset Class Maturity: Investors have allocated record volumes of new capital into infrastructure secondaries, helping to establish increased credibility for the asset class as a strategic liquidity protection and portfolio rebalancing tool.
• Southern Europe Rising: As a result of long-term Brexit effects, coupled with more favorable tax regimes on the continent, southern Europe has emerged as a hotspot for fundraising talent. With Intelligence currently tracks 17 infrastructure fund managers now operating across Milan, Madrid, and Lisbon.
To access the full With Intelligence Infrastructure Outlook 2026, please click here.
About With Intelligence
With Intelligence is part of S&P Global, delivering end-to-end coverage across the alternatives marketplace. With Intelligence’s proprietary data spans a uniquely comprehensive view of private market activity and relationships, including robust, direct-from-investor allocation data and benchmarking capabilities. We are here to help you leverage comprehensive, connected and actionable private markets intelligence.
For more information on With Intelligence, or to arrange a demo or request a trial, please visit www.withintelligence.com
About S&P Global
S&P Global (NYSE: SPGI) enables businesses, governments, and individuals with trusted data, expertise and technology to make decisions with conviction. We are Advancing Essential Intelligence through world-leading benchmarks, data, and insights that customers need in order to plan confidently, act decisively, and thrive economically in a rapidly changing global landscape.
From helping our customers assess new investments across the capital and commodities markets to guiding them through the energy expansion, acceleration of artificial intelligence, and evolution of public and private markets, we enable the world’s leading organizations to unlock opportunities, solve challenges, and plan for tomorrow – today. Learn more at www.spglobal.com
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