Infinedi

The average annual employer-sponsored health insurance premium for a family of four in the US reached $28,303 in 2026, growing ~6.0% per year since 1999. This is more than double CPI's ~2.6% annual growth over the same period.

According to Census Bureau data, 51% of U.S. employer-business owners are 55 or older. As the owners of these businesses near retirement, a "silver tsunami" of ~3M businesses will look to succession planning. This is an opportunity for investors focused on founder-owned businesses.

U.S. households in the 60%–80% income cohort spent 4.9% of pre-tax income on energy in 2024, and the bottom 20% spent 17.0%. With growing competition for electricity between data centers and households, energy costs are rising. To help control these costs, increased investment is flowing into America's energy infrastructure – another driver behind our thesis in Power & Energy Services. If you're an owner, operator, or advisor interested in a conversation, please reach out to Henry Hemaya, our Head of Business Development, at [email protected].

Since December 2023, annual data center construction spend is up $51B and all other private construction spend is down $120B.

Private preschool and K-12 tuition has more than doubled since 2006, up 104% vs 60% for broader CPI. The resilience shown through the multiple recessions highlights how households prioritize private education, even when budgets tighten–one of several drivers behind our thesis in Private Schools. If you're an owner, operator, or advisor interested in a conversation, please reach out to Henry Hemaya, our Head of Business Development, at [email protected].

US electricity demand is projected to grow 3.5% annually over the next decade (vs 0.1% per year from 2005-2020), driven by the data center buildout, electrification, and reindustrialization. To meet this demand, utility CapEx over the next 5 years is expected to exceed $1.4T (~2x 2020-2024 spend). This increased spend is another driver behind our thesis in Power & Energy Services. If you're an owner, operator, or advisor interested in a conversation, please reach out to Henry Hemaya, our Head of Business Development, at [email protected].