A decade ago the nascent infrastructure market struggled to be taken seriously as an asset class.

Those days are over. As we enter 2018, infrastructure market activity revolves around addressing the challenges of fundraising success.

Limited partner investors have continued to allocate significant capital to infrastructure, creating an investment bottleneck of sorts. Too many commitments, not enough capital invested. Dry powder and deal multiples are rising, and investors are struggling to find attractive deals that deliver the right risk-adjusted returns. But there has been progress. The market has expanded in scope and variety and is providing more opportunity for investors.

Routes to market are evolving rapidly and the year ahead will be filled with stories about how various investors choose to allocate not just to the large global funds, but also to smaller funds with more targeted infrastructure investment strategies.

“In the recent past investors