In this episode, Infrastructure Investor senior editor Bruno Alves, deputy editor Kalliope Gourntis and Americas editor Zak Bentley take a deep dive into the infrastructure fundraising market.

After two years of contracting totals, fundraising for unlisted, closed-end vehicles hit a low point in 2024. With circa $92 billion raised, last year’s tally was the lowest since 2015 – and the first time in nearly a decade that fundraising totals have dipped below $100 billion.

We discuss when the market can expect a recovery in fundraising, the ever-larger amounts of time spent on the road by managers to raise funds, and what a sustainable return to health could look like.