Building on the success of the previous infrastructure funds, Evli launches a new Evli Infrastructure Fund III, which invests globally in high-quality private equity funds targeting unlisted infrastructure investments and projects. The new fund continues Evli's successful global infrastructure program, through which the firm has raised and invested over EUR 280 million in infrastructure assets since 2020.
Evli Infrastructure Fund III invests in private equity funds that focus on critical infrastructure, including water supply, energy production and distribution, transportation networks, telecommunications, and social infrastructure. The fund's strategy emphasises broad diversification and careful fund selection, and it targets diversification across 7–10 infrastructure funds. Through these, capital will be allocated across an estimated 100+ infrastructure assets, primarily in Europe and North America.
The fund also seeks to make co-investments, providing investors with access to high-quality infrastructure assets at a lower cost. In these cases, the fund invests directly in target companies alongside selected private equity funds, typically without additional management or performance fees.
Growing interest in infrastructure
Infrastructure has emerged as one of the fastest-growing asset classes. Since 2010, assets under management in private infrastructure funds have increased more than eightfold, now surpassing $1.5 trillion (Preqin). Institutional investors globally are expanding their allocations to infrastructure, drawn by its long-term stability, diversification benefits, and inflation protection.
This growth is fuelled by structural megatrends, including population growth, urbanisation, the transition to renewable energy, and the declining capacity of governments to finance infrastructure independently. As a result, the role of private capital in delivering critical infrastructure projects is expanding, particularly in sectors such as energy production, water supply, telecommunications, and transportation networks.
This trend is evident in investments in the energy transition, which reached new heights in 2024. However, current investment levels remain significantly below what is needed to achieve net-zero emissions by 2050. According to BloombergNEF’s Net-Zero Scenario, annual clean energy investments should average $5.6 trillion between 2025 and 2030, representing a 168% increase over the actual investment level in 2024 (Energy Transition Investment Trends 2025, BloombergNEF).
“Infrastructure has become a key asset class for investors looking for predictable returns and portfolio diversification. In the current economic environment, infrastructure plays an important balancing role alongside equity and fixed income investments. Its significance has grown significantly, particularly in driving the energy transition and safeguarding societal functions, supply security, and energy autonomy amid ongoing geopolitical shifts,” says Richard Wanamo, Investment Director at Evli.
Evli Infrastructure Fund III builds on the success of Evli’s previous infrastructure funds, which have delivered strong performance. The first two funds collectively hold over 200 unlisted infrastructure assets across more than 30 countries, covering the full spectrum of infrastructure sectors. The funds have shown great returns and excellent stability, even during periods of significant market turbulence. Like its predecessors, the new fund offers investors access to globally diversified, directly owned infrastructure – an asset class whose strategic importance and long-term value continue to grow.
More information:
Richard Wanamo, Investment Director, Private Assets, Evli Fund Management Company
+358 50 441 0294
richard.wanamo@evli.com
This product is intended for professional investors and a limited number of non-professional clients who make an investment of at least € 100,000 and who are considered to have an adequate understanding of the fund and its investment activities.
