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Infrastructure anchors Kenfo's $4bn private markets portfolio

Heather Ng
German sovereign investor has allocated $1.7 billion to infrastructure, with Asia Pacific assets forming a significant part of its global strategy.
Infrastructure anchors Kenfo's $4bn private markets portfolio
Key Points
  • Infrastructure forms 41.6% ($1.69 billion) of Kenfo’s private markets portfolio, with a focus on energy transition, digitalisation and transport.
  • Intensifying institutional competition requires rigorous manager selection, disciplined underwriting and strict sustainability criteria.
  • Kenfo’s strategy reflects a wider global sovereign wealth movement pouring over $120 billion into infrastructure across Asia Pacific and beyond.

Kenfo, a German sovereign wealth fund focused on radioactive waste storage, has made infrastructure the backbone of its private markets portfolio, underscoring the asset class's role as a long‑term stabiliser amid intensifying competition and shifting global risks.

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