Turkey has announced a major rail infrastructure programme valued at approximately $6 billion to accelerate the expansion and modernization of its national network between 2026 and 2032. The initiative is led by the Ministry of Transport and Infrastructure and supported by Turkish State Railways (TCDD) and TCDD Transport, with funding allocated across 91 priority projects.
More than Lira 261 billion (around $6.05 billion) will be directed toward enhancing passenger services, improving freight connectivity, and completing a series of high-speed and mainline corridors across the country.
Key corridors in the programme include the Cerkezkoy–Kapikule high-speed line, strengthening trans-European connectivity; the Adana–Osmaniye–Gaziantep corridor, improving southern freight capacity; the Sivas–Erzincan link; and the Ankara–Izmir high-speed route.
Beyond mainline and high-speed development, the programme provides funding for new mainline diesel locomotives and domestically-manufactured electric multiple units (EMUs) expected to enter service by 2028. It also includes feasibility studies for rail extensions in 59 provinces, upgrades to major commuter and urban rail systems, and enhanced freight links serving industrial zones.
Government officials described the initiative as a transformative move for Turkey’s transport system, improving regional mobility, expanding rail freight capacity, and supporting sustainable growth. The investment is also expected to generate employment, stimulate regional development, and strengthen Turkey’s role as a strategic rail hub between Europe and Asia.
The programme aligns with Turkey’s national rail strategy, which targets increased electrification, expanded high-speed rail service, and broader integration with Euro-Asian logistics networks.
The 2026 investment plan represents one of the largest rail infrastructure commitments in the country’s history, underscoring Turkey’s long-term ambition to advance modern rail development and global connectivity.
About the Initiative
The 2026 investment programme represents one of the most significant rail infrastructure funding commitments in Turkish history, reinforcing the country’s leadership in modern rail development and global connectivity. For detailed project information and the latest updates on Turkey’s rail infrastructure priorities and other infrastructure investment updates, visit this site regularly. London, 19th of Jan, 2026. Meet the experts covering infrastructure in Europe and abroad at GID 2026 - Global Infrastructure Dialogue on 29th - 30th of June in Frankfurt. For more information, please click here.
A landmark merger between HICL Infrastructure Company and The Renewables Infrastructure Group (TRIG) is set to create the largest listed infrastructure investment fund in the UK, with combined assets exceeding £5.3 billion. The proposed transaction represents a pivotal moment for the UK listed infrastructure market and reflects accelerating consolidation across the sector.
Listed infrastructure funds have faced sustained pressure over the past two years, as higher interest rates and macroeconomic uncertainty have driven discounts to net asset value and constrained secondary market liquidity. Against this backdrop, scale has become a strategic priority.
The combination of HICL and TRIG is designed to deliver:
Greater diversification across infrastructure and renewable energy assets
Improved liquidity and market relevance
Cost efficiencies through scale
A more resilient income profile across economic cycles
The deal also reflects evolving investor preferences, as infrastructure capital increasingly targets assets that combine income stability with energy transition exposure.
HICL’s portfolio is anchored in long-dated, availability-based assets such as transport infrastructure, utilities and social infrastructure. TRIG, by contrast, has built one of Europe’s largest listed renewable energy platforms, with assets spanning onshore wind, offshore wind, solar PV and battery storage.
The merged entity will integrate these strategies into a single, diversified platform, offering exposure to both regulated and contracted cash flows and renewable generation and storage assets. This blend is intended to smooth revenue volatility while maintaining long-term inflation linkage.
From an asset allocation perspective, the transaction illustrates how renewable energy has become a core component of modern infrastructure portfolios, rather than a peripheral allocation.
Under the proposed structure, TRIG will be voluntarily wound up, with its assets transferred into HICL in exchange for newly issued HICL shares. TRIG shareholders will be offered a cash option, providing liquidity for those seeking to exit listed markets.
Ownership of the enlarged group will depend on the level of cash elections, with both boards highlighting flexibility and investor choice as central elements of the deal.
Completion is targeted for early 2026, subject to shareholder votes and regulatory approvals.
Initial market reaction has been cautious, reflecting investor focus on execution risk, asset mix and capital allocation discipline. However, analysts note that consolidation is likely to continue across the listed infrastructure and renewables space, as funds adapt to higher capital costs and investor demands for scale.
The merger also highlights the growing overlap between listed infrastructure vehicles and private market strategies, as both compete for long-term institutional capital.
Beyond the immediate transaction, the deal sends a broader signal about the future direction of infrastructure investment. Investors are increasingly focused on platforms that can deliver:
Predictable income
Inflation protection
Energy transition alignment
Portfolio resilience
As governments across Europe continue to prioritise infrastructure investment to support energy security, digitalisation and economic resilience, the role of large, diversified infrastructure platforms is likely to grow.
The creation of Britain’s largest listed infrastructure fund underscores how the sector is adapting to these structural shifts — and offers a case study in how infrastructure managers are positioning for the next phase of capital deployment.
The transaction reflects broader themes frequently discussed at the Global Infrastructure Dialogue 2026 on 29th - 30th of June, Frankfurt, where senior infrastructure investors assess capital allocation, market resilience and long-term investment strategy across listed and private markets.
London, 14th December 2025.
Infrastructure investors BlackRock, Brookfield and Apollo are intensifying their push into the oil and gas infrastructure market, urging the world’s largest energy companies to offload pipelines, storage terminals and midstream networks as public-market support weakens and valuations remain low.
At a closed-door meeting ahead of Adipec in Abu Dhabi, the heads of ExxonMobil, TotalEnergies, Eni and BP were told that equity markets “are not as receptive” and that selling infrastructure assets at 10–12x earnings, rather than trading at 4–7x, could unlock billions in cheaper capital for reinvestment.
Saudi Aramco has already embraced the trend. In August, it completed an $11bn sale-and-leaseback of its Jafurah gas network to Global Infrastructure Partners (GIP)—now owned by BlackRock—and is considering further disposals amid strong inbound interest from sovereign wealth funds and private capital. Abu Dhabi, Oman, Bahrain and Kuwait have also launched or explored similar transactions, marking a shift as state oil companies open their asset bases to foreign investors.
According to Evercore’s head of energy EMEA, the Aramco deal has triggered a wave of interest from both state-owned oil groups and global infrastructure funds seeking exposure to long-term, contracted revenue assets. As expectations grow that the energy transition will take longer than anticipated, fossil-fuel infrastructure has become a prime target for private capital backed by long-duration insurance money seeking stable returns.
While state oil companies are moving fastest, international oil companies (IOCs) are beginning to respond. Shell sold its stake in the Colonial Pipeline to Brookfield in a deal valuing the asset at $9bn, and BP divested part of the Trans-Anatolian pipeline to Apollo for $1bn.
Analysts argue the influx of infrastructure capital will pressure the IOCs to adapt. As David Waring, head of energy in Emea at Evercore noted in an article in the Financial Times of 30th of November 2025: “Can the IOCs afford to operate within the confines equity markets impose, without considering more innovative solutions?”
MEAG, the asset management arm of Munich Re, has launched a new European data centre investment fund, signalling accelerating institutional interest in digital infrastructure as a core asset class. The launch follows closely after the announcement of a €2bn data centre development joint venture between ACS and BlackRock’s Global Infrastructure Partners—highlighting strong momentum in the market.
The new vehicle, MEAG Volante DC Investor SCSp, is seeded with assets from Vantage Data Centers and supported by Siemens Financial Services and Munich Re as founding investors. The fund is open to additional professional and institutional investors seeking access to Europe’s fast-growing data centre sector.
Strategic Focus on European Data Centres
MEAG emphasises that the growth of cloud computing, AI, edge computing and 5G continues to drive high demand for scalable and energy-efficient data centres across Europe. Digital infrastructure is increasingly seen as a resilient, long-term investment with strong cashflow potential.
The strategic partnership with Siemens is described as a key foundation for the fund’s growth strategy, technical expertise and investment scale.
MEAG Strengthens Position in Digital Infrastructure
Since 2022, MEAG has invested around €1bn in digital infrastructure, particularly in data centres—building a deep expertise platform that now supports the new fund’s development and asset selection.
Digital infrastructure is rapidly becoming a core institutional asset class, with rising competition and pricing pressure expected as more capital flows into the sector.
London, 28th November 2025.
The 9th Global Infrastructure & Energy Dialogue 2023 will bring together international decision makers in the infrastructure and energy investments sector: Senior industry experts, including investors, lenders, developers, and policy makers will be discussing the latest global trends in infrastructure. Participants will discuss developments in debt capital markets and other ways to finance infrastructure projects.
Absolut Research GmbH is a specialist publisher and research house with a focus on institutional asset management. Since the year 2000, the Hamburg-based company has been providing institutional investors in German-speaking countries with the know-how for well-founded decision-making in capital investments by means of innovative print and online publications.
Absolut Research has been supporting Dialogue Capital for many years within the frame of the Global Summit Infrastructure & Energy Dialogue (GID) and we are therefore very pleased to announce them as our partners for yet another edition of GID
Have a look here at their latest issue, the February Edition:
Check the original article on their latest February Edition
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The 9th Global Infrastructure & Energy Dialogue 2023 will bring together international decision makers in the infrastructure and energy investments sector: Senior industry experts, including investors, lenders, developers, and policy makers will be discussing the latest global trends in infrastructure. Participants will discuss developments in debt capital markets and other ways to finance infrastructure projects.
Portfolio Institutionell is the leading magazine specialising in institutional investments in Germany, and has been providing innovative content on investment strategy, in-depth independent analysis and expert opinion to institutional investors for decades. Therefore, we are delighted to call them our partners for yet another edition of GID.
Have a look here at their latest issue, the January Edition:
Check the original article on Portfolio Institutionell's website
Has the future finally arrived? It seems to be the case, as reported by the mapping service Zap-Map, the UK’s top app for electric car drivers. The map supports drivers with locating their nearest EV charging points, helping them navigate their journeys and pay for charging.
According to the service, pure-electric cars officially outsold petrol vehicles for first time in UK history: In December 2022, 42,000 pure-electric vehicles had been sold, overtaking the figure for petrol vehicle sales.
Melanie Shufflebotham, co-founder and CEO at Zap-Map said “2022 was a record year for both EV sales and public charging rollout. With more than 8,800 net new chargers installed, a 30% increase, the UK’s network is keeping good pace with the take up of cleaner, greener cars.”
Even more positive is the number of ultra-rapid chargers that have been introduced across the UK in 2022. Creating the necessary charging backbone in the UK will be crucial to sustain the growing number of EVs on the UK’s roads. More specifically, the number of ultra-rapid chargers grew from 1,290 at the end of 2021 to 2,295 at the end of 2022 – an increase that aligns well with the transition to EVs in the future.
Read more here.
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Throwback quotes: Just a few years ago, Dialogue Capital (DC) conducted an interview with Meridiam’s CEO and Founding Partner Thierry Deau.
Thierry Deau, CEO, Founding Partner, Meridiam: “I would say the most exciting part of the world right now, both for energy and infrastructure, is Africa.” (2016).
Mr. Deau’s words are still valid today despite the market having changed significantly since then.
The recent initiative ‘NOA Group Holdings (Pty) Ltd., a renewable energy platform that provides energy solutions for its customers’ by African Investment Managers (AIIM), is one example demonstrating that Africa is still one of the key-markets for infrastructure investors today.
This $90m transaction, which was announced on 17th November this year, is said to be financed through capital from AIIM’s South African IDEAS Fund and its AIIF4 Investment Fund.
The planned energy platform establishes AIIM as one of the leading private institutional investors in Africa’s renewable energy landscape, with projects representing over 1.9GW of solar and wind generation capacity in South Africa only. Their intention is to develop bolt-on investment prospects in other key African markets where they already have previous experience.
Click here to see the full article.
Furthermore, the European Union and African Union (AU) decision makers met up in Brussels in early December to discuss and plan details of the bloc’s $150bn Global Gateway Plan for Africa fund projects in infrastructure, energy, and food security.
For the Interview that was conducted with Thierry Deau, CEO and Founding Partner of Meridiam please click here.
It was announced recently this month that the Global investment firm Carlyle has committed up to $1 billion to partner with Tillman Global Holdings, a holding company that builds businesses in digital and infrastructure. Current portfolio companies operate by using tower sectors, in-building small cells and fibre assets.
By committing up to US$ 1 billion from the funds managed by its Global Infrastructure platform to partner with Tillman Global Holdings, Carlyle will help Tillman Infrastructure develop further: Tillman Global will use the funds to accelerate growth, by speeding up its investments in their infrastructure portfolio to meet the increasingly high demand for mobile internet infrastructure, and to keep investing in premium mobile infrastructure to maintain its mobile network operator and clients.
The Carlyle Group is no stranger to digital infrastructure investments – they have already committed to two other deals in the past: Carlyle acquired Involta Data Centers, a U.S. data centre firm focused on hybrid IT and cloud infrastructure, and Wyyerd Fibre Group, a regional fibre-to-home platform in the Southwestern United States for which it also completed an add-on fibre acquisition. However, this deal with Tillman Infra really shows how established digital infrastructure is becoming as an asset class, as opposed to just as an added value or bonus.
So much so that Joshua Pang, the Head of Digital infrastructure and Managing Director at the Carlyle Group, stated in Carlyle Group’s press release that: “The tower sector is one of the most stable and resilient sectors globally and has grown through the two recessions – we think it’s a premium, defensible growth industry”.
He also provided some background on how this deal strengthens their ESG strategy: “Tillman is building towers that help narrow the digital divide, by focusing on developing infrastructure in more rural and sparser or suburban markets where communities have been underinvested and underserved”.
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