Private infrastructure debt to offer "broad opportunities" in 2026

Private infrastrucutre debt will continue to offer a “broad set of opportunities” in 2026, with digital infrastructure and power and energy emerging as key themes for the year ahead, according to a new report by MetLife.

The firm said it also expects to see “increased merger and acquisition (M&A) activity in 2026, as buyers and sellers appear
closer to alignment on pricing levels for infrastructure assets”.

“Private infrastructure debt continued to offer a broad set of opportunities in 2025, and we expect that momentum to continue in 2026,” MetLife said. “Several investment themes are likely to remain central in the year ahead, with digital infrastructure and power and energy needs shaping much of the activity across the sector”.

The firm said that in Europe, it expects “additional opportunities in core infrastructure, given the continuing need to replace
aging infrastructure assets and constrained government budgets”.

“Both Germany and the United Kingdom are also focused on streamlining permitting and planning processes in order to allow projects to be delivered more quickly. This should further support more investable opportunities,” it added.

In the US, MetLife said it will continue to monitor US tariff policies. “Given their sporadic application and political context, the impacts remain difficult to generalise,” it said.

Another area the firm is monitoring is merger and acquisition (M&A) activity, which it said could create new opportunities over the next year.

“We also expect to see increased merger and acquisition (M&A) activity in 2026, as buyers and sellers appear closer to alignment on pricing levels for infrastructure assets. If this materialises, it should create additional financing opportunities across core, energy and digital infrastructure,” the report said.

“As infrastructure needs evolve, disciplined underwriting and thoughtful structuring will remain central to how we deploy capital”.