The infrastructure secondaries market faces a significant challenge with insufficient dry powder to meet transaction demand, according to Global Summit attendees. While pricing remains strong, the sector's modest capital overhang creates a disconnect between market activity and available funding.

Industry participants report that current dry powder levels cannot cover even one year of potential transaction volume. This capital constraint emerges despite favorable pricing conditions that typically would support increased deal flow. The imbalance suggests growing pressure on the market's ability to execute transactions.

Fund managers and investors must navigate this challenging environment where strong valuations meet limited capital availability. The situation highlights structural issues within the infrastructure secondaries space that could impact deal execution and market dynamics in the near term.