IJGlobal Funds & Investors Report – H1 2025

Fundraising within the infrastructure fund space was extremely active in the first half, with activity far outpacing that of years prior as infrastructure shows resilience against market turmoil, delivering investors consistent returns in uncertain times.

IJGlobal tracks key market indicators across fundraising and M&A activity that shine a light on performance, identifying trends as the market evolves on a quarterly basis. Primary data points include time taken for infra funds to raise capital – from launch to final close. Infrastructure funds that reached final close in the first half of 2025 raised $112.05 billion, according to IJGlobal CAPITAL RAISED ($m) & NUMBER OF FUNDS AT FINAL CLOSE data. This was a significant increase compared with H1 2024, which saw inflows of $57.85 billion.

The strong start to the year almost eclipsed the total amount seen for all of 2024 – $125.2 billion. This was the best H1 since 2022, which recorded $151.87 billion.

IJGlobal data show that 57 funds reached final close in the first half, a 21.7% increase compared with H1 2024, which saw 46 funds reach final close, and a significant 43.58% increase on H2 2024, where data recorded 39 funds achieving final close. The buoyancy of the numbers shows that infrastructure is a safe haven in volatile times. There is also a trend of asset managers broadening their product options, offering a range of infrastructure strategies with different risk/return profiles for their investors.

There has also been a trend of exploring new fund structures, whether that be continuation vehicles, co-investments and sector-specific funds providing LPs with more bespoke investment opportunities. Industry insiders have said the first half was some of the busiest times of their careers with funds seemingly looking to reach final close to outpace increased uncertainty…

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