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Investing through Disruption Across Infrastructure and Improving Companies

May 18, 2026

Portfolio Managers Shane Hurst and Grace Su highlight two distinct approaches to navigating an increasingly disruptive environment shaped by AI, the energy transition and geopolitical tensions: investing in essential assets with stable and predictable cash flows, and in companies undergoing fundamental improvement as they adapt to structural change.

The discussion focuses on resilience, inflation protection amid recent energy-driven shocks, valuation discipline, and accessing long-term growth without paying peak multiples. 

Related Perspectives

Inflation and Higher Rates: What They Mean for Infrastructure
Energy-driven inflation and geopolitical risk increase the likelihood of higher-for-longer interest rates, which listed infrastructure has several mechanisms for passing through to earnings.
Infrastructure’s Inflation Pass-Through in Focus
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Global Infrastructure Income 1Q26: Supply disruptions across key energy and commodity markets in the Middle East highlight the resilience of infrastructure assets.
Global Improvers Power Energy Independence
Global Value Improvers 1Q26: We see energy security and independence as multi-decade, secular investment themes creating durable opportunities.
2026 Infrastructure Market Outlook
We expect fiscal liquidity and dovish central bank policy in 2026 to pressure bond yields, which should support utilities and also drive growth on GDP-sensitive user-pays infrastructure.
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  • Past performance is no guarantee of future results. Copyright © 2026 ClearBridge Investments. All opinions and data included in this commentary are as of the publication date and are subject to change. The opinions and views expressed herein are of the author and may differ from other portfolio managers or the firm as a whole, and are not intended to be a forecast of future events, a guarantee of future results or investment advice. This information should not be used as the sole basis to make any investment decision. The statistics have been obtained from sources believed to be reliable, but the accuracy and completeness of this information cannot be guaranteed. Neither ClearBridge Investments, LLC  nor its information providers are responsible for any damages or losses arising from any use of this information.

  • Performance source: Internal. Benchmark source: Morgan Stanley Capital International. Neither ClearBridge Investments, LLC nor its information providers are responsible for any damages or losses arising from any use of this information. Performance is preliminary and subject to change. Neither MSCI nor any other party involved in or related to compiling, computing or creating the MSCI data makes any express or implied warranties or representations with respect to such data (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any of such data. Without limiting any of the foregoing, in no event shall MSCI, any of its affiliates or any third party involved in or related to compiling, computing or creating the data have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages. No further distribution or dissemination of the MSCI data is permitted without MSCI’s express written consent. Further distribution is prohibited. 
  • Source: London Stock Exchange Group plc and its group undertakings (collectively, the “LSE Group”). © LSE Group 2026. FTSE Russell is a trading name of certain of the LSE Group companies. “Russell®” is a trade mark of the relevant LSE Group companies and is/are used by any other LSE Group company under license. All rights in the FTSE Russell indexes or data vest in the relevant LSE Group company which owns the index or the data. Neither LSE Group nor its licensors accept any liability for any errors or omissions in the indexes or data and no party may rely on any indexes or data contained in this communication. No further distribution of data from the LSE Group is permitted without the relevant LSE Group company’s express written consent. The LSE Group does not promote, sponsor or endorse the content of this communication.

  • Performance source: Internal. Benchmark source: Standard & Poor's.

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