PitchBook Analyst Note: Infrastructure Funds Fuel the Energy Transition

This report was updated on December 6, 2024, to fix a chart error on page 3.

Energy transition infrastructure specialists have raised $215 billion since 2014 

LPs have committed $892 billion to infrastructure funds engaging in some degree of energy transition investment since 2014, nearly a quarter of which has gone to specialist funds, PitchBook’s Anikka Villegas reports in her latest analyst note. 

• Fund performance has improved over time, thanks both to government support and better technology. 

• Specialist funds have proliferated as LPs seek out specific exposure, driven in part by stakeholder pressure. 

• Future returns will benefit from increased energy demand, continued government support, and the low cost of operating renewable energy infrastructure.