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TFI is an independent firm focused on global infrastructure investments, ensuring deep sector expertise and robust risk management for our clients.
We have a particular focus on the private infrastructure secondary market. The firm takes a research-first approach to investing, drawing on proprietary data analysis, rigorous due diligence, and in-depth research, while accessing a broad origination network across global infrastructure participants. The key sectors we assess include energy, digital infrastructure, transportation and environmental assets.
We focus on infrastructure opportunities that retain the defensiveness characteristics associated with the asset class while offering attractive risk adjusted returns. Our mission is to deliver strong investment performance, maintain alignment with our clients, and provide access to leading global infrastructure opportunities.
We believe the infrastructure secondary market is currently the fastest-growing segment of private infrastructure. With fewer participants than in other parts of the market, and increasingly important to provide attractive returns, the space offers reduced J-curves, while also addressing important industry bottlenecks by funding platform growth and supporting attractive realisations that release locked-up capital.
Founded in 2025, TFI Investments is an independent alternatives investment firm headquartered in Amsterdam, the Netherlands. The firm was established by a team with deep experience across leading global investment institutions.
We specialise in infrastructure secondaries and co-investments, working in strategic partnership with leading infrastructure managers and investors. Through our network, sector expertise and hands-on investment approach, we seek to unlock high-quality opportunities and provide flexible, knowledgeable capital to a market that continues to evolve.
Our collective experience includes:
TFI also produces bespoke infrastructure research that supports our investment decisions and provides insight to clients and other market participants. Our research incorporates proprietary models designed to assess sector opportunities, risks and emerging trends, helping us identify structural themes and challenges across infrastructure markets. This includes the TFI Risk Benchmark, our bespoke framework for assessing risk-adjusted returns across the infrastructure sector.

Decades of experience investing in private infrastructure and collaborating with leading managers on major transactions across the sector. This experience informs our investment decisions and supports a disciplined, insight-led approach to infrastructure investing.

A global network across the US, Europe, Asia and other markets, with access to high-quality deal flow across core infrastructure sectors, including data centres, energy and transportation

Infrastructure secondary and co-investment strategies have outperformed public and private benchmarks, supported by a growing opportunity set that continues to outpace the expansion of specialist manager capacity

A disciplined focus on value and risk across infrastructure markets. We believe infrastructure can deliver attractive risk-adjusted returns, supported by defensive characteristics and portfolio diversification benefits

An independent platform designed to align with our clients, with no competing strategies, bespoke client solutions, and team alignment linked to investment outcomes

A dedicated focus on infrastructure, with opportunities assessed by specialists with deep sector expertise. We also target attractive structural trends, including AI-driven digitisation and the energy transition

Minesh Mashru is the founder and Managing Partner of TFI Investments (“TFI”). He has over 22 years of experience in infrastructure investing, with a particular focus on global infrastructure, growth assets, secondaries, direct investments and co-investments.
Prior to founding TFI, Minesh was Global Head of Infrastructure Investments at Cambridge Associates, where he led more than 70 investments and oversaw the growth of infrastructure assets under management and performance over approximately 8 years. His work included infrastructure secondaries, primaries and co-investments for a global institutional client base on deals including Zayo, EdgeConneX and Yondr. He also previously led investments at direct infrastructure GPs and was part of leading investment banking teams at RBS and UBS, advising on deals such as Gatwick Airport, Aena and Hochtief Concessions.
Across his career, Minesh has seen the evolution of the infrastructure sector from the period before the global financial crisis through to its development as a major institutional asset class. His decision to form TFI was driven by the opportunities he sees in infrastructure secondaries, as the asset class continues to grow but bottlenecks emerge around realisations, liquidity and access to growth capital. Given his deep industry relationships and investment track record, Minesh believes TFI can play a meaningful role in supporting the next phase of growth in the sector.
TFI Investments
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