Private Credit

The Changing Face of Infrastructure Debt

March 2026 – 4 min read

In a recent Q&A with Infrastructure Investor, Richard Parker discusses how rising digital and energy demand is shaping risks and opportunities across global infrastructure debt markets.

Infrastructure debt is entering a period of renewed prominence, driven by its resilience, diversification benefits and compelling risk‑adjusted returns. As institutional investors navigate an environment defined by economic uncertainty, rising digital demand and shifting energy systems, the asset class is proving its value through stable, long-term cashflow and historically low default rates.

Richard Parker, head of EMEA infrastructure at Barings, outlines how a disciplined definition of infrastructure underpins successful investment, why selectivity matters more than ever, particularly in fast-growing digital subsectors, and where the most attractive opportunities lie across global markets. From data centres and energy generation to transportation networks and social assets, he examines how evolving capital needs, constrained bank balance sheets and the electrification of economies are reshaping the landscape.

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Headshot of Richard Parker smiling at the camera.

Richard Parker

Head of EMEA Infrastructure

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