Infrastructure Debt:
​​​​​​​Key insights from Infraweek and market outlook for 2026

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Discover Infraweek’s key takeaways and how infrastructure debt is evolving in 2025-2026 with insights from LBP AM European Private Markets (‘EPM’) experts: Tuan Au-Quang and Jean-Marie Tassel, investor Directors.

Infraweek 2025 highlighted a major transformation in the way infrastructure is perceived. No longer just a source of stable returns, infrastructure has become a strategic asset in a world facing geopolitical fragmentation and energy transition challenges.

According to Tuan Au-Quang: “Infraweek really emphasized sovereignty, competitiveness, and resilience. Infrastructure is now about strategic positioning in a global context.”

Jean-Marie Tassel adds: “While large projects remain strategic, value creation is increasingly local, tied to smaller regional projects requiring tailored financing solutions. That’s where mid-market players like LBP AM can make a real difference.”

The infrastructure debt market is evolving rapidly. Here are the key trends shaping 2025:

• Data Centers Boom: Driven by AI ambitions, data centers are attracting massive capital flows.
• Energy Sector Focus: Less on new renewable capacity, more on refinancing and portfolio consolidation.
• Battery Storage & Bioenergy: Strong pipeline of projects in Europe.
• Innovative Financing Structures: Example: LBP AM recently closed a hybrid financing for NeoT, a leader in green mobility, combining asset-based and infrastructure financing.

As Jean-Marie Tassel notes: “Selectivity is key. Out of a dozen battery storage opportunities, we’ve only moved forward on two projects so far.”

Energy security and sovereignty will remain central themes. Cloud and AI infrastructures are becoming critical, requiring secure energy supply. Circular economy and recycling will also gain traction to enhance autonomy and resilience.

To meet these challenges, EPM plans to launch:

• A Senior Infrastructure Debt Fund: Promoting European competitiveness and resilience.
• A Junior Infrastructure Debt Fund: Closing the funding gap for strategic projects.

These strategies aim to address different risk profiles and meet growing investor demand, reinforcing LBP AM’s position in the European private markets.

Why It Matters? “Infrastructure debt is no longer just about cash flows—it’s about essential needs, strategic relevance, and resilience.”