Infrastructure Q4 2025: Preqin Quarterly Update

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2025 was a record year for infrastructure fundraising, supported by strong Q4 momentum and continued evidence of the asset class’s resilience amid a more complex geopolitical and policy backdrop

Infrastructure fundraising remained robust in Q4, closing the year at a faster pace and contributing to a record annual total
Deal activity was driven mainly by renewable energy and digital infrastructure, with deployment shaped by differentiated regulatory, energy, and security conditions across markets
Looking ahead, investor sentiment is likely to remain constructive but selective, with continued emphasis on disciplined deployment, smaller commitments, and execution capability