Infrastructure as Soft Power: Resilient Returns Amid Geopolitical Fracture

This report, produced by UBS Asset Management’s Global Real Assets team, examines the strategic and investment case for infrastructure entering 2026 amid geopolitical fragmentation and market unease. 

• Infrastructure fundraising reached a record in 2025, supported by easing rates, persistent inflation, and strong investor sentiment versus other private assets.

• Infrastructure is positioned as both a hedge and a geopolitical tool, underpinning energy security, AI expansion, and social cohesion.

• AI-linked infrastructure offers long-term opportunity, with energy constraints and regulation acting as natural risk dampeners.

The full report explores where disciplined capital can still find durable value.