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Private Equity & Wealth Management – ZUWAX

This is a convenience translation. The German version is legally binding. Deutsch

Infrastructure NXT

Inflation protection with infrastructure

A global infrastructure portfolio for private investors – stable income, institutional quality and simple digital access from 20,000 euros.

Inflation protection with infrastructure

9,1 % p. a.

Average return of infrastructure since 2010 ¹

85 %

Lower max. drawdown than equities since 2010 ¹

80

Planned investments in global infrastructure

1 Sources: Preqin Infrastructure Index, MSCI World TR USD (Bloomberg); period: 31.12.2010 to 31.12.2025. Past performance is not an indicator of future performance. Capital investments involve risks.

Stable values when markets fluctuate

Maximum drawdown since 2010, indexed: infrastructure fell significantly less than equities in weak market phases.

Equities (MSCI World TR USD)

100

Infrastructure (Preqin Infrastructure Index)

15

Maximum drawdown, indexed to equities = 100. Sources: Preqin Infrastructure Index, MSCI World TR USD (Bloomberg); period: 31.12.2010 to 31.12.2025. Historical performance is not an indicator of future performance. Capital investments involve risks.

Why professionals allocate to infrastructure

Invest in genuine assets of the future

Infrastructure funds invest in essential assets – from energy and transport to digital infrastructure. Capital flows to where growth arises and long-term value is created.

Inflation-protected returns

Over the past 15 years, infrastructure investments have generated returns similar to those of equities – with significantly lower fluctuations and inflation-protected cash flows. ¹

Stability for the portfolio

In weaker market phases, infrastructure investments have fallen significantly less than equities and have recovered more quickly – an important stability factor for diversified portfolios.

Infrastructure generates attractive, steady returns – even in turbulent times

Infrastructure investments for private investors

Simple entry, from 20,000 euros

NXT gives private investors access to the infrastructure asset class from 20,000 euros – fully digital, without paperwork and, if desired, with an automatic savings plan.

Institutional quality, no compromises

Via our partner Neuberger Berman, one of the world’s leading infrastructure investors, you invest in the same funds and on the same terms as institutional investors. No retail tranches.

Transparent and fair

NXT offers a professionally curated infrastructure portfolio – on transparent, fair terms. A performance fee is charged only after investors have received a return of 6 % p. a. Liquidity windows are available on a regular basis. ²

Professionally optimised, broadly diversified

Your portfolio is diversified across regions, sectors and strategies to keep potential and risk in balance. From renewable energy and digital infrastructure to next-generation mobility – your capital works where the future is taking shape.

Together with the best in the industry

Our partner Neuberger Berman ranks among the world’s leading infrastructure investors. Together with ZUWAX, it is opening its successful co-investment strategy to private investors for the first time. You invest side by side with institutional investors – directly in high-quality infrastructure projects worldwide.

1939

Founded

>6 billion

US$ in infrastructure assets

12 % p. a.

Net return after costs ³

Neuberger Berman Logo

3 Net IRR since inception of Neuberger Berman’s infrastructure co-investment programme as at November 2025. The costs applied reflect the cost structure of Infrastructure NXT. Past performance is not an indicator of future performance.

Focus
Inflation protection
Target return after costs ⁴
8–10 % p. a.
Distributions ⁴
2–3 % p. a.
Target portfolio
80 Investments
Risk ⁵
●●●●○○○
Liquidity window ⁶
Quarterly
Investment horizon
From 5 years
Management fee
1,50 % p. a.

4 Target return and target distributions are not guaranteed. Your return and distributions depend on future market developments. | 5 Infrastructure NXT is classified in SRI risk class 4 of 7, corresponding to a medium risk class. | 6 Whether and how quickly units can be sold depends on demand. Redemptions are subject to restrictions. Infrastructure NXT may not be suitable if you cannot enter into a long-term and illiquid commitment. More on the opportunities and risks can be found in the product information and the sub-fund prospectus. Infrastructure NXT has a ramp-up phase of up to three years.

Where Infrastructure NXT is shaping the future

Digital infrastructure & AI

Data centres, fibre, satellites – the backbone of the connected world

Energy & decarbonisation

Renewable energy and green technologies for a stable future

Transport & utilities

Roads, bridges and networks that keep everything moving

Is Infrastructure NXT right for you?

Find out in a few clicks whether Infrastructure NXT fits your goals – or obtain personal advice.

ZUWAX business team in black and white with a laptop and documents
Hand holding the ZUWAX infrastructure guide with a road scene on the cover

Exclusive guide

Learn what distinguishes Infrastructure, what the opportunities and risks look like, and what the advantages in a portfolio can be.

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Further NXT portfolios

Private Markets extend your portfolio into the investment universe beyond the stock exchange – offering attractive return opportunities, additional diversification and active value creation.

Frequently asked questions

Infrastructure NXT is intended for return-oriented investors with a long-term investment horizon who can forgo access to their investment for a certain period and who are able to assess the risks of a semi-liquid investment.

Because selling units in Infrastructure NXT is possible only with restrictions, Infrastructure NXT may not be suitable for investors who cannot enter into a long-term, illiquid commitment.

Before your investment we carry out the legally required suitability assessment and summarise the result for you in a suitability statement.

Ready for the next step?

2 Whether and how quickly units can be sold depends on demand. Redemptions are subject to restrictions. Infrastructure NXT may not be suitable if you cannot enter into a long-term and illiquid commitment. Please refer to the product information. Infrastructure NXT has a ramp-up phase of up to three years.

Capital investments involve risks. Please note our risk disclosures. The value of your investment may fall as well as rise. It is possible that you may suffer a loss of your invested capital. Historical performance, simulations or forecasts are not a reliable indicator of future performance. Please note the product information and the sub-fund prospectus.