By Mindaugas Suklevicius – Founder and Fund Manager at HF Quarters
Infrastructure is often grouped with long-term wealth preservation, as many assets are designed to operate for decades and can generate recurring cash flows. The category includes long-lived assets, such as power networks, transport links, water systems, fibre, mobile towers, and data centres. That reputation for durability holds up best when revenues are clearly defined, the costs are controllable, or at least transparent, and the operating environment is stable.
Some assets generate revenue under regulated or long-term contracts, which can make cash flows more predictable than those of assets that rely solely on market prices or user demand. Many infrastructure businesses can pass inflation through to customers and maintain steady underlying demand. Therefore, they tend to preserve real, inflation-adjusted returns better than many other investments. The preservation angle is strongest when pricing and demand aren’t easily affected by broader economic developments.
Recently, digital infrastructure has become large and critical. UN Trade and Development reports that data centres captured more than one-fifth of global greenfield investments in 2025, demonstrating how quickly capital is concentrating in this segment.
While infrastructure assets can support long-term sustainability, private investments can tie liquidity up for years and require planned exits. As such, listed infrastructure can help reduce liquidity risks and offer diversification.
Looking ahead, the definition of infrastructure will only continue to expand, driven by the critical need for digital connectivity and data storage. Yet, whether investing in a traditional toll road or a next-generation data centre, the core appeal of the asset class, stable, inflation-adjusted returns, remains strong.