A leading provider of European infrastructure investments for long-term income generation

As one of the largest non-bank lenders in Europe, our reputation as a trusted counterparty in European infrastructure provides access to a wide range of opportunities. Our dedicated and experienced origination team source high-quality infrastructure projects spanning debt and equity, with a focus on stable, long-term income generation. We combine proprietary research with sector and industry expertise to originate and structure transactions.  

Environmental, social and governance (ESG) considerations are integrated into our origination process and ongoing management of projects. Where relevant, ESG factors are binding objectives of certain strategies and client mandates.*

Scale and reach

We are direct investors in infrastructure, utilising our extensive network to source opportunities. We utilise our in-house expertise together with specialist platforms to create long-term pipeline and scale.

Diversification and inflation hedging

We focus on delivering appropriate risk-adjusted returns from infrastructure where favourable supply and demand dynamics support the role of private investment. Rigorous relative value analysis is an essential part of our portfolio construction process.

Supporting the climate transition

As a leader in sustainable real assets, our investment capabilities include solutions that support the climate transition. We actively measure and manage carbon emissions that are avoided, reduced or removed, as an integral part of our investment process.

*ESG integration means the integration of ESG factors and consideration of sustainability risk as part of the investment decision making process. This process is applied beyond any specific binding constraints (in the objective or strategy of the fund as detailed in the prospectus or investment management agreement and in accordance with our Baseline Exclusions Policy). The investment manager retains discretion on decision making taking all risks into account, beyond any binding criteria.

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Infrastructure strategies

Infrastructure debt

Senior debt invested in long-term, stable infrastructure assets across a wide range of sectors. Ideal for investors looking for stable cashflows with an attractive risk/return profile, and to capture the illiquidity premium. 

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Infrastructure equity

Direct investment in lower to middle market infrastructure opportunities in Europe with the aim to deliver stable, long-term returns to our clients. We invest in the energy, mobility, digital and social infrastructure sectors which accelerate and benefit from the transition to a low-carbon economy.

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Key risks of infrastructure investing

Investment risk

The value of an investment and any income from it can go down as well as up. Investors may not get back the original amount invested.

Valuation risk

Where funds or mandates are invested in real assets such as infrastructure, investments may not be able to be sold, realised or liquidated when you want because the infrastructure assets may not always be readily saleable. If this is the case, we may defer your request or instruction regarding your investment. Investors should also bear in mind that the valuation of real assets such as infrastructure is generally a matter of valuers’ opinion rather than fact.

Investment insights

Investment thinking that brings together the collective insight of Aviva Investors’ teams from across the globe on the key themes influencing markets.

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Private Markets Study 2025

In the seventh edition of the study, we collected the views of 500 institutional investors around the world. We delved into some of the key questions facing private market investors today: Why do they invest in private markets? How do they expect the asset classes to perform over the next few years? What are the biggest barriers to investing today? And how do they incorporate sustainability?

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House View

No one can predict the future. But our quarterly House View sets out the collective wisdom of our investment teams on the current state of global markets – and where they might be heading.

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Infrastructure team

Meet our Infrastructure investment team.

  • Angenika Kunne

    Managing Director, Head of Infrastructure Equity

  • Darryl Murphy

    Managing Director, Infrastructure

  • Florent del Picchia

    Head of Euro Infrastructure Debt

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    Private markets

    As one of Europe’s largest private markets investment managers, we have the scale to access the full depth and breadth of private markets.

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