The #1 Place Where Private Wealth Allocations are Moving

76% of private wealth professionals and advisors say their clients view private markets as returning higher rewards than stocks and bonds.¹ 

A new survey finds that one investment category sits at the top of private wealth managers’ plans for new allocations this year.

It's not private credit, a sector that’s attracted so much attention in the last two years.

And it’s not secondaries, which some have seen as the antidote to the IPO shortage.

Instead, it’s a sector with a history of steady performance that’s known for its resilience in the face of inflation and for not being correlated to the wild swings in public markets.*

We’re talking major global themes like AI expansion, expanded energy and power generation capabilities, and supply chain optimization.

Now Republic is partnering with a leading private markets player to open investment in this very sector that’s a driving force behind the innovations defining our future, starting at just $500.

* Past performance is not indicative of future returns.  Calculated using Bloomberg CPI Data and Hamilton Lane Private Infrastructure Data via Cobalt between 1999 – trailing twelve months, as of March 31, 2023. Elevated inflation defined as CPI ≥ 3%.  Subsequent performance may vary.

Only 1.2% of investment opportunities pass the test²

The category we’re talking about is private infrastructure.

It’s grown from a small sector, with just $5B invested globally in 1999, to a major category with $1.3T devoted in 2023.³ 

This new offering, the Hamilton Lane Private Infrastructure Fund, comes from an established private markets investor who has been part of this movement throughout. 

Hamilton Lane's private infrastructure holdings under management and supervision now total $77.6B in assets.⁴   

Over the last 20 years, their entire private infrastructure portfolio has achieved an average Gross IRR (Internal Rate of Return) of 22% in these types of investments.⁵ 

One of the keys to Hamilton Lane’s strategy is selectivity. The company reviews approximately 3,000 infrastructure opportunities every year. Yet they only invest in 1.2% of them.⁶

This rigorous screening reflects their commitment to identifying what they believe are high-quality, essential assets that align with their infrastructure thesis, focusing on foundational investments with the following traits:

• Essential Services: Critical sectors like energy, power generation, data and telecommunications, transportation hubs, waste management, and water systems

• Large Fixed Assets: Long-term, irreplaceable infrastructure with high barriers to entry that ensure limited competition, monopolistic market positions, and strong pricing power

• Predictable Cash Flows: Investment assets often hold long-term contracted commitments (10–15 years) from customers with inflation adjustments, providing the potential for steady and reliable returns

Private Infrastructure: The Potential to Outperform Public Markets with Less Volatility

A notable metric for gauging investment performance relative to risk is the Sharpe ratio, which measures an investment’s risk-adjusted return by comparing its excess return (above a risk-free rate) to its volatility.

A high Sharpe ratio may be an indicator of positive returns relative to level of risk.  

Private infrastructure fares well, generating a Sharpe ratio of 1.58 over the last 10 years— above the levels of most other categories in the public and private markets.⁷ 

Investment in private infrastructure assets offers the potential combination of capital appreciation and steady income. 

The fact these assets bear up well during times of inflation could provide an additional hedge against macroeconomic volatility and enhance portfolio stability.⁸

Plus, an increasing reliance on private capital to address infrastructure funding gaps creates co-investment opportunities that further bolster the sector’s appeal.⁹ 

These market circumstances help explain why nearly half of private wealth managers intend to boost investments in private infrastructure, making it the most targeted sector for increased allocations this year.

Investing in vital infrastructure

High-growth areas like digital infrastructure and renewable energy are attracting significant investment due to rising demand in sectors like AI, energy generation, and supply chain security.¹⁰ 

The Hamilton Lane Private Infrastructure Fund portfolio features several strategic investments in these fields¹¹, including:

• Yondr Group: These purpose-built hyperscale data centers support major industry players battling for AI leadership. They’re pre-leased for 10–15 years supporting stable cash flows. Such centers are integral to the digital economy and the growing demand for AI infrastructure.

• Gulf Coast Express: This natural gas pipeline transports 2 billion cubic feet per day from one of America’s most productive oil and gas fields, the Permian Basin, to the Gulf Coast. The project features fully contracted capacity until 2029 (with extension options through 2039) and supports energy reliability and economic activity in one of the nation’s largest oil and gas regions.

• Heathrow Airport: Hamilton Lane served as a co-lead on an investment in Europe’s busiest airport, known for handling high volumes of international passengers and critical cargo. Revenue streams saw a 26% increase in 2023, reflecting Heathrow’s vital role in both global connectivity and trade

These select investments highlight Hamilton Lane’s focus on what they believe to be indispensable infrastructure assets that serve as pillars of modern society—essential for energy, transportation, communication, and economic resilience.

Click here to learn more about Hamilton Lane’s approach and invest for as little as $500.

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1. https://explore.hamiltonlane.com/2025-global-private-wealth-survey/home 
2. https://www.hamiltonlane.com/en-us/news/evergreen-infrastructure-fund-retail-investors
3. https://www.hamiltonlane.com/en-us/insight/real-assets-2024/infrastructure 
4. https://www.hamiltonlane.com/en-us/strategies/infrastructure 
5. https://republic.com/hamilton-lane-private-infrastructure-fund Internal Rate of Return ("IRR") is calculated on a pooled basis using daily cash flows.  Gross IRR is presented net of management fees, carried interest and expenses charged by the general partners of the underlying investments, but does not include Hamilton Lane management fees, carried interest or expenses since it is not possible to allocate such items accurately in a composite measured at different points in time. 
6. https://www.hamiltonlane.com/en-us/news/evergreen-infrastructure-fund-retail-investors 
7.  https://www.hamiltonlane.com/en-us/insight/real-assets-2024/infrastructure Sharpe ratio: A measure of an investment’s risk-adjusted performance, calculated by comparing its performance to that of a risk-free asset. Source: Hamilton Lane data, Bloomberg as of January 2024. Annualized time-weighted returns utilized for calculation cover a ten-year period dated to September 30, 2023. For illustrative purposes only. Actual results may vary.  Assumes risk free rate of 2.3%, representing the average yield of the ten-year treasury over the last ten years.
8. https://www.bcg.com/press/17march2025-private-equity-infrastructure-investment-renewed-growth 
9. https://www.planadviser.com/financial-advisers-home-private-infrastructure-investments/ 
10. https://www.planadviser.com/financial-advisers-home-private-infrastructure-investments/ 
11. https://republic.com/hamilton-lane-private-infrastructure-fund