The “Multi-Billion Dollar Pipeline” Powering Data Centres and the New Economy

Why It Matters

Understanding the shift to core, cash‑flow‑driven power assets helps investors capture stable income while de‑risking exposure to the rapidly expanding digital economy.

Key Takeaways

• Core infrastructure offers cash‑flow assets, not construction risk.
• Power demand will rise 60% in next 10‑15 years.
• Data centers need only 40% of future electricity growth.
• Investors favor debt over equity for de‑risking data‑center exposure.
• Diversification across 40‑50 assets mitigates single‑asset cash‑flow risk.

Summary

The interview explores how a multi‑billion‑dollar power pipeline is reshaping infrastructure investment, especially for data centres and the broader digital economy. Managing director Tiki Benist contrasts value‑add strategies, which carry construction and exit risk, with core infrastructure that provides long‑term, contracted cash flows.

Benist highlights that the United States will need roughly $2 trillion in power‑related projects over the next decade, equivalent to about 500 GW of new capacity. Overall power demand is projected to rise 60 percent, with data centres accounting for roughly 40 percent, while commercial, industrial, transportation and residential sectors each contribute about 20 percent.

He stresses a shift toward debt‑focused investments in data‑centre assets to obtain downside protection, noting that equity valuations appear rich. The firm’s selectivity rate sits near 1 percent, reflecting rigorous due‑diligence on both the quality of the asset and the creditworthiness of investment‑grade off‑takers.

For investors, the takeaway is clear: prioritize core, income‑generating power assets, use subordinated debt structures for data‑centre exposure, and diversify across dozens of contracts to mitigate single‑asset risk. The $16 trillion global infrastructure spend forecast underscores the scale of opportunity, with the U.S. energy sector emerging as the most immediate target.

Original Description

While the mainstream financial media focuses heavily on big tech chip designers and AI software creators, a quieter - and potentially much larger - opportunity is unfolding in the infrastructure space.

Data centres are facing exponential demand, triggering a massive need for power generation. In the US alone, a projected $2 trillion investment will be required over the next decade to build out 500 gigawatts of power. Teiki Benveniste, Head of Australia and New Zealand for Ares Wealth Management Solutions, joins us to discuss:

- The Structural Shift: How infrastructure has evolved from "dirtier" traditional assets to foundational digital and energy assets.

- The Energy Play: Why investing in the developers building wind, solar, and gas power stations offers reliable, long-term cash flow.

- Data Centre Debt: Why Ares prefers sitting higher up in the capital structure (debt) rather than chasing rich data centre equity valuations.

- Risk Management: How to differentiate between "value-add" development risk and "core" operational infrastructure.

This interview was filmed 14th May, 2026.

Timecodes:

00:00 – Introduction: The Retooling of Infrastructure

00:30 – Core vs. Value-Add: The Big Misunderstanding

02:47 – The Structural Shift: Beyond "Dirty" Assets

04:01 – The Power Boom is Bigger Than Just AI

06:25 – Where the Market is Too Crowded

08:55 – Where Does the Risk Actually Sit?

10:47 – Spotting High-Quality Income Streams

11:51 – The Worst-Case Scenario & How to Survive It

13:12 – The $106 Trillion Global Opportunity