Global markets dealt with mixed conditions in 2024: Infrastructure fundraising declined while capital deployment surged, and investor confidence remained strong. In fact, infrastructure fundraising decreased to a ten-year low. Nonetheless, telecommunications deals accounted for a larger share of total infrastructure deal value in 2024 than what was typical in previous years, Senior Partner Alexander Edlich and colleagues note. Global deal value growth for telecommunications in 2023–24 was nearly 60 percent, second only to social at about 75 percent. The authors’ analysis suggests that dealmakers completed bigger deals recently, since the overall deal count increased in 2024 only 7 percent over 2023.
Image description:
A stacked bar chart shows global infrastructure deals by sector as a percentage of total deal value from 2015 to 2024. Each bar represents a year, with the different colored sections of the bar representing the percentage of total deal value for a specific sector. From bottom to top, the sectors are transport, renewables, power, energy, social, environment, telecommunications, commodities, and other. The transport sector accounted for 46% of the total deal value in 2015, then declined to 22% in 2023 and 2024. Renewables rose from 17% in 2015 to 24% in 2023 before falling to 22% in 2024. Power decreased from 15% in 2015 to 9% in 2022 before slightly rising to 11% in 2023 and 13% in 2024. Energy increased from 10% in 2015 to 17% in 2024. Social decreased from 9% in 2015 to 3% in 2023 before slightly rising to 4% in 2019. Environment stayed steady at ~4% from 2021 to 2024. Telecommunications increased from 10% in 2021 to 16% in 2024. To the right of the chart is a column showing the 2023–24 growth rate for each sector. The highest growth rate was in the “other” sector, at 265.9%. The telecommunications sector grew by 58.6%, while the social sector grew by 75.2%. The energy sector contracted by –10.5%.
Note: This image description was completed with the assistance of Writer, a gen AI tool.
Source: Infralogic database, ION, accessed March 2025.
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To read the report, see “Global Private Markets Report 2025: Braced for shifting weather,” May 20, 2025.