Our 2025 Infrastructure Review examines the defining trends of the past 12 months and highlights notable developments featured in our quarterly newsletter. The analysis focuses in particular on hiring patterns and broader talent dynamics across the sector.
Despite a record year for fundraising, infrastructure hiring was more measured than capital inflows alone would suggest. Rather than expanding teams aggressively, GPs have prioritised targeted, strategic hires capable of delivering genuine value - whether through strengthening LP relationships or enhancing investment capabilities.
Our review examines such trends in greater detail alongside exploring the themes which are likely to shape the industry in the year ahead.