Consistent with LP feedback over the past 12–18 months, European infrastructure is now attracting more non-European institutional capital than at any point in the last decade. North American infrastructure funds and US public pension funds are redirecting capital toward European infrastructure, and Gulf sovereign wealth funds are following suit. Both moves reflect a broader pivot toward hard assets as well as uncertainty in those two regions vis-à-vis the Europe.
Is this a structural reorientation of global capital towards Europe, or a cyclical rotation that could reverse? And what are U.S. pension funds and infrastructure managers finding in Europe that they cannot get at home?
