Sector Investment 8 Hours

Last updated: April 2, 2026, 11:30 AM ET

Real Estate & Private Equity

Ares Management successfully completed the final close for its latest U.S. and European value-add real estate funds, with the U.S. vehicle, XI, marking the firm’s single largest capital raise ever for a closed-end structure in that segment. This influx of capital contrasts with private infrastructure sentiment, where attendees at the Global Summit heard that modest capital overhang in infrastructure secondaries means current dry powder cannot cover even one year of potential transaction volume, signaling pricing strength despite funding constraints. Nevertheless, pension managers are looking to increase allocations; VRS's real assets director indicated intentions to gradually expand exposure to real estate, noting the asset class is currently outperforming various benchmarks despite prevailing economic headwinds.

Infrastructure & Energy Strategy

Geopolitical instability is forcing a strategic re-evaluation in the infrastructure sector, with the ongoing conflict in the Middle East recasting the energy transition as an urgent energy security imperative. While private infrastructure funds have not yet explicitly adopted "energy security" in their naming conventions, market participants anticipate this shift as global energy flows face continued disruption. This focus on reliable supply may further benefit the secondaries market, although current capital constraints limit immediate transaction velocity.