Infrastructure across many parts of the world is either decades old or, in some regions, barely existent. Against this backdrop, the need for infrastructure investment is immense. Powerful structural shifts – such as the transition to sustainable energy, widespread decarbonization, and the rapid expansion of AI-driven technologies – are only accelerating demand. With the capital-intensive nature of infrastructure projects, public funding alone is insufficient. This gap creates an important role for private capital, with global institutional investors like Allianz Global Investors stepping in to meet the growing need. “Infrastructure investment...