Infrastructure funds: the upside of low downside

Historically private infrastructure funds have shown fairly resilient performance and a very low loss ratio. On a pooled average basis, European infrastructure funds provide some of the highest returns, with a TVPI of 1.43, compared with 1.32x for North American funds and 1.38x for all funds globally. None of the analyzed vintage years shows a performance of bottom quartile funds below 1.05x. Even in the world of private real assets, this is an impressive achievement.