1、INFRASTRUCTURE STRATEGY 2025How Investors Can Gain Advantage as the Asset Class MaturesMarch 2025 By Wilhelm Schmundt,Alex Wright,Benjamin Entraygues,Lauren Powers,Emmanuel Austruy,Thomas Bumberger,Sunil Chandrasekhar,Andrew Claerhout,David ONeil,and Julien VialadeContents03 Introduction 04 The Stat

2、e of the Industry10 Building for the Future 12 Geographic and Sector Analysis 26 The Expanding Infrastructure Mandate 34 ConclusionBOSTON CONSULTING GROUPHOW INVESTORS CAN GAIN ADVANTAGE AS THE ASSET CLASS MATURES 3Over the past two decades,private infrastructure investment has delivered a reliable

3、stream of steady returns and served as a major source of capital for the roads,seaports,airports,energy generation and transmission,broadband systems,data centers,and more on which our global society and global economy depend.In the past ten years alone,private infrastructure assets under management

4、(AuM)have more than quadrupled,to$1.3 trillion.But as this years report on the state of private infrastructure investing shows,while infrastructure assets under management continue to grow,deal volume declined in 2024 compared to the previous year,and fundraising is still down 43%from 2022s peak,des

5、pite growing 14%year-over-year.Moreover,the overall geopolitical situation remains unstable,even as interest rates have stabilized after falling from their recent peaks.The highly uncertain macroeconomic environment remains a concern as well,especially following the recent elections in the US.The ne

6、w administration is engaged in a major revamping of the countrys administration and budget,which is likely to create unforeseen changes in multiple areas related to government and regulation,with as yet unclear impacts on global trade.The situation is kinetic and is generating considerable uncertain