Investors in France find a safe haven in real assets in Q1

Investors in France shifted toward real assets—mainly infrastructure—in Q1 2026 as a risk-off response to political instability and global tensions. Real-asset fundraising reached €10.2bn (~$11.9bn), accounting for 67% of the €15.2bn of French private capital raised in the quarter. Much of that was concentrated in InfraVia Capital Partners’ sixth European infrastructure fund, which hit its €8bn hard cap in March, while Meridiam closed a €2.2bn continuation vehicle the same month. The report suggests institutional demand for defensive, cash-flow-generating assets has risen, implying stronger investor preference for safe-haven and defensive exposures amid uncertainty—an environment that can support prices of traditional safe-haven instruments such as gold (XAUUSD).