The inaugural ISQ OpenInfra Index finds private infrastructure moving from a niche diversifier toward a core allocation within private markets portfolios.

Private infrastructure is taking on a broader role in private wealth portfolios. In the inaugural ISQ OpenInfra Index, I Squared Capital surveyed 250 financial advisors who work with alternative investments. The findings suggest that infrastructure is increasingly viewed not simply as a defensive or income-oriented allocation, but as a potential source of long-term growth tied to structural trends reshaping the global economy.

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From Niche to Core Allocation

Nearly half of advisors surveyed, 47%, said their clients currently allocate between 6% and 10% of their private markets portfolios to infrastructure.

That allocation is expected to grow. Three out of four advisors anticipate that clients will increase their private infrastructure exposure by 2027. The same share prefer to work with specialist infrastructure managers rather than generalists as they build that exposure.

Beyond Stability and Yield

The findings also point to a shift in how advisors define infrastructure’s role within portfolios. Among respondents:

• 35% identified growth as infrastructure’s primary portfolio role
• 32% cited diversification
• 17% selected income

While infrastructure has historically been associated with stability and yield, advisors surveyed now most commonly position it as a growth allocation.

Structural Trends Are Driving Interest

Private infrastructure sits at the intersection of several major investment themes, including rising power demand, grid modernization, digital infrastructure, and energy security.

Half of advisors identified the growth of digital infrastructure, including data centers and artificial intelligence, as a leading driver of client interest. Other frequently cited themes included population growth, urbanization, and reshoring at 44%, followed by inflation and broader macroeconomic uncertainty at 41%.

For investors allocating to private markets, infrastructure can offer a differentiated combination of growth, income, and appreciation, backed by real assets that may support resilience across economic cycles.

Education and Access Continue to Trail Demand

Despite rising interest, implementation barriers remain. Limited product availability was cited by 48% of advisors, while 44% pointed to limited understanding of the asset class and 44% identified liquidity concerns. The findings underscore the continued need for investor education, appropriate access structures, and specialist guidance as infrastructure becomes a larger component of private wealth portfolios.

I Squared’s ISQ OpenInfra platform is designed to bring global, institutional-quality middle-market infrastructure investments to the private wealth market.

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Survey Methodology

The inaugural ISQ OpenInfra Survey was conducted by Wakefield Research among 250 financial advisors who spend time working in alternative investments. The survey was completed between April 7 and April 21, 2026, using an email invitation and online questionnaire. Survey findings reflect the views of participating advisors at the time of the research and are not necessarily representative of all financial advisors or market participants.

DISCLOSURES

This material is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any security. The views expressed reflect the opinions of the author as of the date of publication and are subject to change without notice. Forward-looking statements involve known and unknown risks and uncertainties; actual outcomes may differ materially from those expressed or implied. Investing involves risk; loss of principal is possible. Specific investment advice references provided herein are for illustrative purposes only and are not necessarily representative of investments that will be made in the future. Past performance is not indicative of future results.

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