9 DECEMBER 2025
Infrastructure outlook: AI, decarbonization and policy tailwinds in 2026
ClearBridge Investments believes the outlook for infrastructure in 2026 remains robust, driven by the accelerating demand for power and data fueled by AI.
Key takeaways
The macro
- Infrastructure pays off long term; short-term impact depends on context: Outcomes vary by region and project type, with emerging markets often seeing stronger economic effects.
- Digital and defence projects stand out: Broadband boosts productivity fast; defence spending drives long-term growth – making infrastructure a strategic lever for governments.
The market
- Infrastructure is recession-resilient and in demand: It offers stable returns and diversification when other assets struggles making it a valuable portfolio anchor.
- Energy and AI are reshaping global infrastructure: Clean power and data needs are driving investment, especially in frontier and emerging markets.
The managers
- Big themes, bigger growth: Energy transition, climate adaptation and AI are accelerating infrastructure investment, with utilities expanding faster than at any point in recent decades.
- Regulated assets offer stability and scale: Long-term contracts and supportive policy frameworks help infrastructure operators deliver predictable returns and attract investor capital.
Episode 4: The macro, the market and the managers
FTF ClearBridge Global Infrastructure Income Fund
A global infrastructure fund that targets a high level of income with a secondary objective of long-term capital growth.
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Our portfolio managers provide their latest comments on ClearBridge’s infrastructure strategies.
