Looking only at fresh capital and commitments secured during the deepest of fundraising doldrums encountered between 1 June 2023 and 31 May 2024, it’s fair to say that entrants in this year’s Infrastructure Investor ranking of infrastructure placement agents haven’t had it easy.

It won’t surprise industry participants that Campbell Lutyens is at the top and that Probitas Partners is second (Hodes Weill chose not to participate). Also, the numbers suggest healthy competition in the field, with strong performances from the usual high-flyers as well as from niche players such as LatAm-focused Picton and DACH-specialists Selinus Advisors. To accompany the unveiling of this year’s ranking, these four firms kindly agreed to share their views on past performance, as well as on the year 2025.

Finding a niche in LatAm

Picton is eighth on the list. Headquartered in Santiago, Chile, with offices in Colombia, Brazil, and Costa Rica and a strong presence in Mexico and Peru, this placement agent raised $303 million in the 12 months under consideration from Latin American LPs.

Key Picton clients include EQT, KKR and Macquarie, and the relationships go back a decade and cover private equity as well as infrastructure. “Our relationships span a decade, starting with EQT in private equity in 2013 and expanding into infrastructure projects in Chile,” says Matías Riutort, Picton partner and head of placement for alternative assets, KKR is a similar story, and Picton has been working with Macquarie since 2014.

“Our on-the-ground presence across Latin America, coupled with our deep understanding of the region’s language, culture, and regulatory landscape, allows us to be a trusted partner to global firms,” Riutort says.

Latin American LPs continue to prioritise investments in funds focused on the US and Western Europe, according to Riutort, who adds: “Recently, we’ve seen increasing demand for core-plus, opportunistic and value-add infrastructure investments, aligning with shifting investor preferences.”

Chile’s advanced pension system, founded in the 1980s, plays a key role in fuelling alternative investments in the region, with current allocations to the asset class ranging from 5-13 percent depending on the fund type. These limits are set to expand to 6-20 percent by August 2027, further driving opportunities in the region.

Concerns over the policies of the new US administration are part of the conversation with LPs, but Riutort remains confident: “While clients are curious about policy changes, the overall demand for digital and transportation infrastructure remains strong. Some sectors may face shortterm pressure, but the long-term outlook for infrastructure investments is resilient.”