Infrastructure
Invest with infrastructure starting at €1 in the backbone of our economy.
HanseMerkur
infrastructure
With a target return of 12 % p.a.
UBS
infrastructure
With a target return of 9 % p.a.
Access to the private market
Invest from 1€ in products that were previously inaccessible to you - via a savings plan or one-time investment.
Leading fund managers
The funds are managed by HanseMerkur and UBS with decades of expertise in infrastructure equity.
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Your fund shares are held in Baader Bank's special fund.
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What does it mean to invest in infrastructure?
Infrastructure is the backbone of our economy: roads, power grids, fiber optic cables, airports and renewable energy keep our everyday lives running. When you invest in infrastructure, you are participating in exactly such projects - i.e. at the grassroots level without which our modern world would not function.These projects are usually long-term and generate ongoing income, for example through energy sales, tolls or long-term contracts with the public sector. For you, this usually means predictable returns and an investment in something tangible.
Why invest in infrastructure?
Energy & Basic Services
Power plants, networks and plants that supply households and companies with electricity, heat and water - often with long-term contracts and stable income.
Transport & Logistics
Roads, rail networks, ports or airports through which people and goods are transported. Without them, the economy stands still - their use ensures continuous cash flows.
Energy Transition
Solar and wind farms or networks for the energy revolution. They contribute to a more sustainable economy and can deliver predictable returns at the same time.
Digital Infrastructure
Fiber and data networks, data centers and radio masts that transport data and form the basis for our digital economy - from streaming to cloud services.
Investing
Our infrastructure funds.
infrastructure
UBS Infrastructure
UBS invests in unlisted infrastructure projects in OECD countries - economically stable, politically secure industrialized countries such as Germany, USA or Japan.
9% p.a.
Target return
Target returnThe target return is based on fund management assumptions. It is not a promise and is not a reliable forecast of future results.31.08.2027
Lock-up period
Lock-up deadlineThe minimum holding period during which you cannot sell your shares. This gives fund managers the necessary planning security for long-term investments. After this period, you can usually return your shares.Medium risk
Medium riskAssessment of the risk profile based on the investment strategy and the volatility of comparable investments. Private markets are subject to market, liquidity and corporate risks.
infrastructure
HanseMerkur - Digital Infrastructure
This fund invests in the backbone of the digital world: data centers and digital infrastructure for major cloud providers. As an umbrella fund, the HanseMerkur Digital Infrastructure ELTIF combines the strategies of several specialized investment managers.
12% p.a.
Target return
Target returnThe target return is based on fund management assumptions. It is not a promise and is not a reliable forecast of future results.30.03.2027
Lock-up period
Lock-up deadlineThe minimum holding period during which you cannot sell your shares. This gives fund managers the necessary planning security for long-term investments. After this period, you can usually return your shares.High risk
Medium riskAssessment of the risk profile based on the investment strategy and the volatility of comparable investments. Private markets are subject to market, liquidity and corporate risks.
The fund managers
Our Infrastructure Managers.
With UBS Asset Management, we have brought an experienced partner in the area of infrastructure to our side. The infrastructure team has been active in the market for 20 years and has a track record of 140 infrastructure funds and co-investments.
6.9 Bill. USD
Assets under management
20
Years active on the market
140+
Implemented funds and co-investments
The funds
Fund Manager
UBS | Infrastructure
Focus
Energy transition, water supply, communication, transportation
Target return after costs
9% p.a.
Geographic Focus
Europe
Lock-Up Deadline
31.08.2027
Fees
Purchase: 2.00%
Sales: 0.79%
Earnings
Accumulated
Fund size in EUR
50 million
ISIN
LU2707658667
HanseMerkur
Our infrastructure managers.
HanseMerkur Trust AG is the asset manager of the HanseMerkur Insurance Group - one of the most traditional German insurance companies with roots dating back to 1875. With decades of experience in alternative investments, it combines professional manager selection with clear implementation in the area of digital infrastructure.
> €13 billion
Assets under management
Since 1875
Active on the market (HanseMerkur Group)
28
Asset management staff
The fund
Fund Manager
HanseMerkur | Digital Infrastructure
Focus
Hyperscaler computing and data centers
Target return after costs
12% p.a.
Geographic Focus
Europe, USA, Asia
Lock-Up Deadline
30.03.2027
Fees
Purchase: 2.00%
Sales: 0.79%
Earnings
Distributed
Fund size in EUR
50 million
ISIN
LU3134353773
Discover infrastructure
What makes up an infrastructure fund?
Infrastructure is more than just bridges and roads. It comprises energy supply, transport networks, fibre-optic lines and renewable energy - in other words, the very structures without which our modern economy would not function. For you, this means that you can invest directly in the basis of our daily life, instead of just in companies on the stock exchange. From electricity and water networks to transport routes and digital infrastructure, many projects generate long-term, often contractually secured income. For example, through user fees, energy sales or long-term contracts with public clients.
In this way, infrastructure investments can bring stability to the portfolio and help to better cushion fluctuations in purchasing power. With NAO, you invest from 1€ in strictly curated infrastructure funds that combine different sub-areas and regions. This broad diversification allows you to diversify your portfolio in a targeted manner and participate in long-term developments such as energy transition and digitalization. Would you like to delve deeper into how infrastructure works and what opportunities lie behind it? Dive into our detailed blog post.
Investment team
Comment from the investment team.
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Your shares.
There are many new models in the financial world — at NAO, we focus on what really counts: real fund shares. Your capital is invested directly - without detours via tokenization or complex structures. With our co-investment approach, you own what you buy - clearly, simply and securely.
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partners
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Assets under management
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Curated funds
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Simulate the potential development of your investment.
Disclaimer: Possible value development in various performance scenarios. Past performance, simulations, or forecasts are not a reliable indicator of future performance. Commissions, costs and fees can significantly influence the performance of investments in some cases. The costs and their effects on the performance of a financial instrument should therefore always be considered before making an investment decision. Source: NAO Research (2025); the underlying data is based on the key information document from the Hamilton Lane Private Market Access ELTIF Fund with ISIN LU3051916800.
Disclaimer: Possible value development in various performance scenarios. Past performance, simulations, or forecasts are not a reliable indicator of future performance. Commissions, costs and fees can significantly influence the performance of investments in some cases. The costs and their effects on the performance of a financial instrument should therefore always be considered before making an investment decision. Source: NAO Research (2025); the underlying data is based on the key information document for the product ARK ELTIF ICAV - Ark Private Innovation ELTIF with ISIN IE0007OY3DL2.
Disclaimer: Possible value development in various performance scenarios. Past performance, simulations, or forecasts are not a reliable indicator of future performance. Commissions, costs and fees can significantly influence the performance of investments in some cases. The costs and their effects on the performance of a financial instrument should therefore always be considered before making an investment decision. Source: NAO Research (2025); the underlying data is based on the key information document from Partners Group Private Markets Evergreen SICAV Partners Group Private Equity Opportunities with ISIN LU2716887091 and the Private Equity (Lux) Evergreen Secondary Fund product with ISIN LU2461279726.
Disclaimer: Possible value development in various performance scenarios. Past performance, simulations, or forecasts are not a reliable indicator of future performance. Commissions, costs and fees can significantly influence the performance of investments in some cases. The costs and their effects on the performance of a financial instrument should therefore always be considered before making an investment decision. Source: NAO Research (2025); the underlying data is based on the key information document for the product RGV - Redstone Global Venture ELTIF with ISIN LU2847069353.
Disclaimer: Possible value development in various performance scenarios. Past performance, simulations, or forecasts are not a reliable indicator of future performance. Commissions, costs and fees can significantly influence the performance of investments in some cases. The costs and their effects on the performance of a financial instrument should therefore always be considered before making an investment decision. Source: NAO Research (2025); the underlying data is based on the key information document from the product Muzinich European Private Credit ELTIF SICAV with ISIN LU3051947607.
Disclaimer: Possible value development in various performance scenarios. Past performance, simulations, or forecasts are not a reliable indicator of future performance. Commissions, costs and fees can significantly influence the performance of investments in some cases. The costs and their effects on the performance of a financial instrument should therefore always be considered before making an investment decision. Source: NAO Research (2025); the underlying data is based on the key information document from the product UBS (Lux) Private Markets - Infrastructure Opportunities Fund with ISIN LU2707658667.
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“NAO democratizes long-term wealth creation and expands investment options.
Steffen Hetzel
C-Suite in Tech (lawpilots, bitly) | Angel Investor & Advisor
Why did the investment team choose these infrastructure funds?
Infrastructure forms the foundation of our company and is also one of the most stable asset classes in the private markets sector. Our investment team has selected two funds that offer different approaches: one that focuses thematically on one of the largest fields of the future, and one that is broadly diversified. HanseMerkur: We have signed a partnership with the HanseMerkur Trust for access to digital infrastructure. The Digital Infrastructure ELTIF we offer is an umbrella fund - a fund that invests in several specialized funds - with a focus on computing and data centers in the hyperscaler segment. These are the large cloud infrastructures on which the world's leading technology companies build their services. The growth momentum in this segment is tremendous: According to the International Energy Agency (IEA), the global energy demand of data centers is expected to more than double by 2030. The cumulative investment volume is estimated at 4.2 trillion US dollars.* HanseMerkur Trust AG is a 100 percent subsidiary of the HanseMerkur Insurance Group. With around 13 billion euros in assets under management, she is an experienced institutional manager with many years of expertise in investments in alternative markets.
*Source: IEA, 2025: Energy and AI
UBS - For access to a broad portfolio of infrastructure investments, we rely on our long-standing partner, UBS. The UBS infrastructure team has been active since 2004 and has since made over 140 fund and co-investments with a volume of around 8.8 billion US dollars. The fund covers the entire spectrum: energy, transportation, communications and public infrastructure. It therefore invests in the entire world around us. For investors who do not want to focus on a single infrastructure topic but want to invest across different sectors and regions, the UBS approach offers a great opportunity to diversify their entry into a broad infrastructure portfolio. It is managed by an outstanding team that is extremely selective in making funds and co-investments in various areas of infrastructure.
Robin Binder - Founder & CEO