The past decade has seen significant shifts in infrastructure investment patterns globally. Following steady growth in the early 2010s, transaction activity surged toward the end of the decade, boosted by global trends such as digitalisation, electrification and deglobalisation that were later accelerated by the pandemic.Since the peak in 2022, however, momentum has slowed, reflecting a new economic reality of higher interest rates, increased cost of capital, supply chains disruptions and economic uncertainty.