Generate long-term returns and hedge against inflation with experienced private infrastructure funds.

11.9% annualized return after fees

Performance

1000+ assets

Diversification

5 established fund managers

Quality

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Why invest in private infrastructure?

Private infrastructure provides investors with exposure to assets that are often considered an essential service to the ongoing functioning of the global economy and society.

Private infrastructure has outperformed stocks and bonds during past periods of elevated inflation.

Historically, private infrastructure has maintained positive performance in market downturns.

Looking forward, AI is driving immense demand for energy consumption and data centers.

Private infrastructure returns amid inflation

Gain exposure to 1,000+ assets with Heron's globally diversified private infrastructure strategy.

Our credit analysts implement an ongoing review and monitoring process of fund managers, selecting only top-tier funds for our clients' portfolios. Learn more about our fund-selection process here

Allocation

Partners Group Next Generation Infrastructure, LLC

20.5%

Partners Group Next Generation Infrastructure, LLC (NXGN) seeks to generate attractive risk-adjusted returns on a portfolio of core-plus and value-add infrastructure investments. Some of the key investment themes targeted by NXGN are decarbonization and sustainability, focusing on opportunities in clean power, low carbon fuels, carbon management, and circular economy; new living, focusing on opportunities in new mobility, social infrastructure, and critical supply chain; and, digitization and automation, focusing on opportunities in data transmission and data storage. Under normal market conditions, NXGN generally invests at least 80% of its assets globally in securities issued by infrastructure businesses, infrastructure-related pooled investment vehicles and/or infrastructure-related private equity investments. Through its detailed assessment, NXGN evaluates an investment's infrastructure characteristics across the essentiality of the business model, and long-term cash flow visibility and stability. The fund is focused on capital expenditure-intensive businesses with contracted, regulated or recurring cash flows, leading market share, high barriers to entry, and low disruption risk. NXGN is managed by Partners Group, a global investment firm with $31 billion in infrastructure AUM and $174 billion in total AUM.

$31B

AUM

+21 years

Track record

7.8

Quality score

16.95%

Returns

5.65%

Premium to benchmark

Hamilton Lane Private Infrastructure Fund

20.0%

Hamilton Lane Private Infrastructure Fund (XHIIX) seeks to provide investors with long-term capital appreciation and current income through constructing a portfolio of investments in infrastructure assets. Hamilton Lane defines infrastructure as an asset or investment that primarily comprises permanent facilities and installations needed for the functioning of a society and/or large-scale commerce, typically characterized as fixed, physical assets. Hamilton Lane Private Infrastructure Fund seeks to invest across macro investment themes including but not limited to energy transition, digitization, data and telecommunications, and supply chains and logistics. The fund is primarily comprised of co-investments and secondaries investments in the middle market, with most of the underlying investments being equity holdings. With respect to risk profiles, Hamilton Lane Private Infrastructure Fund is focused on investing in core-plus and value-add opportunities; it generally avoids opportunistic investment profiles, especially where risks such as development risks, commodity risks, and merchant risks have not been mitigated. Additionally, the fund aims to diversify the across vintage years, sectors, geographies, and deal sponsors. The fund's target total net return is expected to be in the low double digits per annum, which may include an annualized distribution target of 2-5%. Hamilton Lane Private Infrastructure Fund is managed by Hamilton Lane, a global investment firm with over three decades of investing in the private markets, with $100+ billion in discretionary AUM and ~$800 billion in non-discretionary assets under advisement across asset classes.

$7B

AUM

+25 years

Track record

7.7

Quality score

16.72%

Returns

6.37%

Premium to benchmark

Ares Core Infrastructure Fund

19.9%

Ares Core Infrastructure Fund (ACI) seeks to generate attractive risk-adjusted total returns consisting primarily of current income and, secondarily, of capital appreciation. ACI intends to invest in equity, and to a lesser extent, debt, interests in infrastructure-related assets or businesses, including investments in the power generation, transportation, telecommunications, digital infrastructure, midstream and energy infrastructure, regulated utilities, social infrastructure, and environmental services sectors. North America is expected to account for the majority of the fund's investment holdings. ACI is part of Ares's $23 billion AUM infrastructure business; this has been a dedicated platform within Ares since 2015, when Ares acquired Energy Investors Funds, which was founded in 1987 as one of the first private equity fund managers focused on the U.S. independent power industry. Ares is one of the largest alternative investment managers in the world, with ~$600 billion in total AUM.

$21B

AUM

+37 years

Track record

8.4

Quality score

11.98%

Returns

1.58%

Premium to benchmark

KKR Infra Fund

19.9%

KKR Infrastructure Fund is a holding company that seeks to acquire, own, and control infrastructure businesses that generate attractive risk-adjusted returns consisting of both income and capital appreciation. This fund was established to control and manage joint ventures that, directly or indirectly, own majority stakes in infrastructure assets, and to a lesser extent, joint ventures that own influential yet non-majority stakes in infrastructure assets. The investment focus of this fund is hard-asset backed businesses that provide essential services to local markets with long-term visibility into cash flows. Examples of targeted investment themes include digitalization (e.g., fiber optic networks, cell towers, data centers, etc.) and decarbonization (e.g., solar and wind assets, district heating and cooling, electric and gas transmission and distribution, etc.). Currently Europe represents the largest portion of this fund's portfolio, followed by the U.S. and the U.K., respectively. This fund targets a total net annual return of approximately 9-11% (including an annual income yield of approximately 4-5% which has been distributed on a quarterly basis). This fund is part of a $100+ billion AUM global infrastructure and energy business, which has been investing in infrastructure since 2008 and is currently the fourth largest infrastructure investment manager in the world based on AUM. The fund is managed by one of the largest investment firms in the world, with approximately $723 billion in total AUM, with an investment track record going back to 1976.

$102B

AUM

+17 years

Track record

8.5

Quality score

9.40%

Returns

0.14%

Premium to benchmark

StepStone Private Infrastructure Fund

19.7%

StepStone Private Infrastructure Fund (STRUX) seeks to generate current income and long-term capital appreciation by providing investors with access to a globally diversified portfolio of private infrastructure assets, spanning communication and digital infrastructure (towers, data centers, and fiber), power generation and midstream (gas generation, fuel transportation, and storage), renewables and energy transition (wind and solar, energy storage, and distributed energy), social infrastructure (waste management, healthcare, and education), transportation and logistics (toll roads, airports, and seaports), and utilities (electricity distribution and transmission, district heating and cooling, and water). The portfolio is predominantly composed of secondary investments, including assets originated by leading global infrastructure managers such as KKR and EQT, with smaller allocations to co-investments and primary commitments. Equity investments are the primary underlying asset type. Geographically, STRUX's portfolio is most exposed to the United States, the United Kingdom, Germany, and France. The fund sits within StepStone Group's approximately $40 billion infrastructure platform, itself part of a global investment business managing roughly $200 billion in assets under management.

$40B

AUM

+16 years

Track record

8.0

Quality score

16.21%

Returns

6.00%

Premium to benchmark

Track the growth of private infrastructure funds on Heron.

Data reflects performance of private infrastructure funds on Heron after fees

Annualized return

13.0%

Invest with confidence.

SEC

Registered

Heron Finance is an SEC-registered investment advisor.

$1.5 trillion

Aggregate manager AUM

Exposure to managers that oversee some of the world's largest private market funds. (As of 2025)

20+ years

Avg manager track record

Private market managers with experience navigating market cycles.

SEC

Registered

Heron Finance is an SEC-registered investment advisor.

$1.5 trillion

Aggregate manager AUM

Exposure to managers that oversee some of the world's largest private market funds. (As of 2025)

20+ years

Avg manager track record

Private market managers with experience navigating market cycles.

Your questions answered.

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$5000 minimum investment.

Significantly lower than any of the underlying funds.

1% annual management fee.

Simple flat rate, already deducted in returns shown.

Request to sell at any time.

We aim to fulfill requests within one quarter. View the full redemption policy.

We support tax advantaged accounts like IRAs and 401ks.

Heron has partnered with AltoIRA to make this very easy. If you have an existing IRA or 401(k) account, you can transfer funds for free, or you can deposit cash through Alto. For more information, see our help center article here.

In Heron's private credit strategies, there are thousands of loans, loan defaults are rare, and most of our loans are first in line for repayment.

When you open a private credit portfolio with Heron, you gain exposure to multiple high-quality funds with over 3000 loans. These loans are 95% or more first lien. First lien debt holders are paid back before all other debt holders making the chance of a loss very low. And if one loan does have a loss, your Heron portfolio has over 3000 more loans, providing protection from a high level of diversification. Read our article to learn more about our approach to risk mitigation.

In the unlikely event that Heron goes out of business, your money is safeguarded.

To start, we don't plan to go out of business! We are backed by large institutional investors, generating revenue, and maintaining an ample runway. As any business should, we maintain a continuity plan.

In the highly unlikely event that we did wind down the business, your money is still safe. At a high level, here's what you need to know and how it would wind down:

All LP shares of funds are held in a separate, bankruptcy-remote legal entity from the one that we use to run our day-to-day operations. Second, Heron Finance works with a qualified custodian, Inspira, that custodies said LP shares.
In the event that Heron Finance's operating entity were to shut down, we would submit redemption requests to all of the funds.
Then that separate holding entity and Inspira would work to identify a backup service provider that could manage the redemptions and work to facilitate the return of your capital.

Heron is available to US accredited investors. See what is required to qualify.

Anyone automatically qualifies as an “accredited investor” if they meet just one of the following criteria:

Income: Individual income of $200,000, or joint (with a spouse or partner) income of $300,000 for the two prior years, with the same anticipated in the current year
Net Worth: Individual or combined (with a spouse or partner) net worth of $1 million or greater, excluding your primary residence
Exam: A Series 7, 65, or 82 in good standing

You can verify your status as an accredited investor as a part of our sign-up process. The documents you need will depend on the method of verification. You only need to verify via one of the following:

Income verification: Connect your payroll provider, or upload W-2s, K-1s, 1099s, paystubs, or tax returns to verify your income
Net worth verification: Bank statements, brokerage statements, securities holdings statements, certificates of deposit, tax assessments, or appraisal reports (Note: when you use the net worth verification, we pull a “soft” credit report that will not impact your credit score.)
3rd party letter: A letter from an attorney or accountant testifying that you are accredited

To learn more about how to become accredited, see our article: 4 Easy Steps to Becoming an Accredited Investor.

Returns represent overall performance, including interest and net changes in principal (accounting for any appreciation/depreciation).

Interest typically represents the primary source. When a fund appreciates or depreciates, it reflects the changing market value of the fund's underlying assets. Month over month fluctuations are normal. This does not affect interest payments. Fund appreciation/depreciation is expected and is factored into all estimated returns.

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Up to 10,000+ assets in each portfolio

16+ highly ranked private market funds

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Charts, images, and other visual materials are for illustrative purposes only and should not be considered individualized investment advice. The strategies shown may not be suitable for all investors.

The information on this website does not constitute an offer to sell securities or a solicitation of an offer to buy securities. Further, none of the information contained on this website is a recommendation to invest in any securities or a recommendation of any interest in any investment offered by Warbler Labs, Inc. or any of its subsidiaries (collectively, “Warbler”).

Any financial forecasts or financial returns, whether in the form of interest or appreciation displayed on this website are for illustrative purposes only and are not a guarantee of future results. Private credit investments are subject to credit, liquidity, and interest rate risk. In the event of any default by a borrower, you will bear a risk of loss of principal and accrued interest on such loan, which could have a material adverse effect on your investment. A borrower may default for a variety of reasons, including non-payment of principal or interest, as well as breaches of contractual covenants. Credit risks associated with the investments include (among others): (i) the possibility that earnings of a borrower may be insufficient to meet its debt service obligations; (ii) a borrower's assets declining in value; and (iii) the declining creditworthiness, default, and potential for insolvency of a borrower during periods of rising interest rates and economic downturn.

Any investment target return presented here is intended for informational purposes only and does not guarantee future performance or results. This model assumes no variability, including no loan defaults, fluctuations in interest rate, customer withdrawal requests, late payments, or penalties, and our management fees have remained unchanged throughout this projection. Please be aware that all investment involves inherent risks, and past performance is not indicative of future outcomes. Customers are advised to consult their own legal and tax advisers regarding their specific circumstances and needs. We do not accept any liability for any loss or damage arising from the use of this information or for any actions taken based on this information without seeking professional advice.

Private equity investments involve a high degree of risk, including the potential loss of the entire investment, illiquidity, long holding periods, limited transparency, and sensitivity to economic and market conditions. Diversification does not ensure a profit or protect against loss, and past performance is not indicative of future results. Comparisons to individual private funds, public markets, institutional portfolios, or other benchmarks are provided for illustrative purposes only. These may not represent a direct comparison, may rely on data reported by third-party managers, and may reflect differing methodologies, time periods, or investment universes. Data from underlying fund managers may be subject to reporting lag, estimation, or revision.

No communication by Heron or any of its affiliates through this website should be construed or is intended to be investment, tax, financial, accounting, or legal advice. Heron Advisory, Inc., d.b.a. Heron Finance is an SEC-registered investment advisor (RIA). Such registration should in no way imply that the SEC has endorsed the entities, products or services discussed herein.