Transport packaging assets challenge traditional infrastructure definitions, leaving limited partners (LPs) to determine their portfolio fit. While purists may view these assets as incomplete, the evolving market suggests growing acceptance. Recent major fund closures underscore infrastructure's appeal: KKR secured a $19.2bn final close for its flagship fund, while Keppel nears a $2bn close for Data Centre Fund III.

EQT's AI-driven fundraising success highlights the draw of marquee platforms. Regional opportunities are expanding, with Latin American power identified as a significant, underplayed market and Kuwait advancing a $16bn pipeline deal. Nuveen's high-profile exits demonstrate liquidity potential.

Despite sunsetting tax credits, the U.S. solar and wind outlook remains robust. However, data indicates persistent underallocation to infrastructure in H1 2026, suggesting continued capital formation runway. The sector's broadening scope — from data centres to transport packaging — reflects LP demand for diversification and inflation-linked returns, even as classification debates persist.