Infrastructure

Infrastructure investments succeed or fail on market need, commercial structure, utilization, stakeholder alignment, regulatory risk, capital discipline, development sequencing, and operating execution. The advisory perimeter must extend beyond financial modeling because infrastructure assets are long-lived, capital-intensive, and difficult to reposition once built.

23.5 Strategies focuses primarily on energy and industrial infrastructure, including terminals, tanks, pipelines, storage, logistics assets, distribution networks, processing facilities, power-related infrastructure, and related physical systems.

The firm advises investors, operators, developers, project sponsors, and leadership teams evaluating infrastructure opportunities. The work helps clients assess commercial feasibility, customer demand, asset positioning, competition, utilization risk, partnership structures, development readiness, stakeholder narrative, and value creation potential.

Infrastructure is where physical markets, capital allocation, regulation, customers, and execution meet. A project can look attractive in a model and still fail commercially if demand is weak, contracts are poorly structured, stakeholders are misaligned, or timing is wrong.

23.5 helps clients evaluate infrastructure with discipline: Is the asset needed? Who is the customer? What problem does it solve? What contracts support it? What are the utilization risks? What capital is required? What regulatory or stakeholder issues matter? How does it create value over time?