Global Listed Infrastructure: Investing at the Heart of the 21st Century Economy
Building Portfolios Around What the World Needs Most
In an era marked by energy volatility, digital transformation, and geopolitical uncertainty, the world is investing in one thing above all else: infrastructure. While airports, grids, ports, and data centres might not always steal headlines like AI or crypto, global listed infrastructure offers something arguably more valuable, real assets, real cash flow, and exposure to multi-decade secular growth.
At TAMIM, we see global listed infrastructure as one of the most compelling long-term opportunities for investors in 2025 and beyond. These businesses sit at the centre of energy transition, the reshaping of global logistics, and the foundational layers of the digital economy. They combine inflation-linked revenue, high barriers to entry, and a front-row seat to global capital expenditure trends.
For investors searching for resilience, diversification, and capital growth, global listed infrastructure deserves more attention, especially now. This article outlines why, while showcasing six global listed infrastructure companies that are shaping the future.
Why Global Listed Infrastructure Now?
We believe global listed infrastructure plays three critical roles in a modern portfolio:
- Defensive Growth: These are companies with regulated returns, long-term contracts, and essential services. They offer downside protection with real upside potential.
- Inflation Protection: Many infrastructure assets have direct CPI linkages in revenue models, providing a rare source of genuine inflation hedging.
- Exposure to Structural Megatrends: Energy transition, digital connectivity, reshoring of manufacturing, and demographic-driven demand are all catalysing once-in-a-generation infrastructure spend.
Importantly, global listed infrastructure provides this exposure with daily liquidity, transparency, and broad diversification across sectors and geographies. Unlike private infrastructure, there’s no lock-up or black-box pricing.
In 2025, as capital rotates out of overvalued tech and into durable income-generating assets, global listed infrastructure is emerging as a smart destination.
Six Global Listed Infrastructure Leaders Shaping the Future
These six companies highlight the breadth, resilience, and innovation of the infrastructure asset class.
- Sterling Infrastructure (NASDAQ: STRL)
Sterling operates across three essential segments: E-Infrastructure (data centres, logistics), Building Solutions, and Transportation. Its E-Infrastructure division, now almost 50% of total revenue, boasts high margins and deep exposure to digital construction needs.
Sterling has been a key beneficiary of the U.S. Infrastructure Investment and Jobs Act, and continues to grow its $2.35 billion backlog with major wins across tech and logistics. As a contractor aligned with the future of digital and physical infrastructure, Sterling captures the build-out phase of America’s next industrial cycle.
- Vistra Energy (NYSE: VST)
Once a traditional utility, Vistra has emerged as a hybrid energy platform. Following its acquisition of Energy Harbor, the company now owns over 4,000 MW of nuclear capacity, with additional exposure to natural gas and storage in the Permian Basin.
With the rise of AI data centres and new demand for reliable baseload, Vistra’s carbon-free nuclear fleet is uniquely valuable. The Inflation Reduction Act has added material tailwinds. The company has also returned significant capital to shareholders, reducing its share count by over 28% since 2021.
- Constellation Energy (NASDAQ: CEG)
Spun out of Exelon in 2022, Constellation is now the largest operator of unregulated nuclear power in the U.S. With its generation exposed to wholesale pricing, the company enjoys a structural edge over regulated peers.
Its nuclear plants run at >92% capacity, providing over 40 TWh annually. The growing private-sector appetite for long-term carbon-free power, e.g., Microsoft’s Three Mile Island deal, positions Constellation as a core enabler of energy reliability in a volatile grid.
- Nippon Yusen Kabushiki Kaisha (TSE: 9101)
NYK is a global logistics powerhouse with diversified exposure across bulk, container, car carrier, and LNG shipping. Its LNG fleet, in particular, is strategically vital in the reconfiguration of global energy flows.
Following its dividend surge in 2022 and share buybacks, NYK continues to optimise its capital structure while maintaining global relevance. In a world prioritising energy resilience and shipping redundancy, NYK plays a strategic role well beyond simple freight.
- MDU Resources (NYSE: MDU)
MDU has shed its “hidden conglomerate” label. With the 2023 spin-off of Knife River and the 2024 separation of Everus, MDU is now a streamlined regulated utility focused on natural gas infrastructure.
Its $2.3 billion capex program aligns with rising demand for stable, transition fuels, particularly in colder, industrial U.S. states. The result: more transparent operations, higher margins, and greater market recognition for its utility core.
- Quanta Services (NYSE: PWR)
Quanta is the unsung hero of the electrification wave. From wildfire prevention to EV infrastructure, it builds the grid that powers tomorrow. With entrenched utility relationships and a $29.9 billion backlog, it benefits from structural grid investment like few others.
Revenue has grown sharply over the past two years, and its role in enabling energy transition makes it one of the most valuable infrastructure enablers in global markets today.
Themes That Unite These Leaders
Though diverse in geography and sector, these six global listed infrastructure companies share critical attributes:
- Essential services with embedded pricing power
- Inflation-linked or contract-backed revenue streams
- Visibility over multi-year capital programs
- Strategic relevance to national and economic security
They represent different facets of the same macro story: the global economy is rebuilding, digitising, and decarbonising, and infrastructure is the enabler.
TAMIM Takeaway: Durable Growth with Real Assets and Relevance
In a world grappling with instability, few asset classes offer the durability and dynamism of global listed infrastructure. This is not simply a thematic play, it is an allocation to the structural underpinnings of how the world moves, powers up, and connects.
For investors seeking:
- Real assets with inflation protection
- Long-term visibility on earnings
- Exposure to energy transition and digitisation
…global listed infrastructure offers all three.
Actionable Insights for Investors:
- Evaluate your portfolio’s allocation to real, regulated, and revenue-generating assets
- Look beyond local names, global diversification is essential in this asset class
- Use short-term rate-driven volatility to accumulate quality infrastructure names
- Focus on businesses enabling, not just operating, essential networks
At TAMIM, we view global listed infrastructure as a core long-term allocation, not just for income, but for relevance. The businesses shaping tomorrow’s grid, ports, and digital superhighways are listed today, and trading at attractive valuations.