Tag: Capital Innovations

FEATURE
Why Infrastructure May Be the Most Underrated Asset Class of 2025 (Ep. 82)

Why Infrastructure May Be the Most Underrated Asset Class of 2025 (Ep. 82)

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When electricity demand in the U.S. hit a record-breaking high on July 28th, 2025, it wasn’t a blip; it was a signal. 

In this powerful follow-up to Episodes 69 and 78, Robert Curtiss welcomes back Michael Underhill, founder and CIO of Capital Innovations, to unpack the megatrends shaping the future of investing.

From surging AI-driven capital expenditures to the multi-trillion-dollar rebuild of America’s power grid, Michael outlines why infrastructure is no longer a “nice to have” but an essential portfolio diversifier. He explores how interest rate cycles, inflation, and the evolving definition of risk are impacting investor behavior and how private infrastructure may offer consistent returns, lower volatility, and true non-correlation in today’s concentrated markets.

What to expect:

  • Why is electricity demand rising faster than forecasted?
  • The three infrastructure megatrends to watch through 2050
  • How to think like an institutional investor with alternatives
  • The real reason private infrastructure may outperform in downturns
  • And more!

Resources:

Connect with Robert Curtiss:

Connect with Michael Underhill:

About Our Guest:

Michael Underhill is the Chief Investment Officer of Capital Innovations, a firm focused on infrastructure, energy, and ESG-aligned strategies. With decades of investment experience, Michael brings a deep understanding of macro trends and emerging opportunities in private and public markets. His team manages infrastructure-focused portfolios designed to align long-term capital with long-term value creation.

FEATURE
The Ongoing Demand for Infrastructure Investments (Ep. 78)

The Ongoing Demand for Infrastructure Investments (Ep. 78)

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A power shift is underway. And it is not just political or technological. 

In this episode of The Millionaire Next Door, host Robert Curtiss sits down with Michael Underhill, Chief Investment Officer at Capital Innovations, to explore the seismic transformation in infrastructure and energy investing.

With humor, historical context, and deep industry insight, Michael compares this moment to Led Zeppelin’s debut, when a once-niche phenomenon suddenly became the main event. The episode unpacks the $112 trillion global energy transition, the exponential rise of AI-fueled electricity demand, and how public and private capital must unite to power the next generation of growth.

Expect insight into:

  • Why energy demand is expected to jump 14x by 2030
  • The accelerating rise of nuclear, natural gas, and methane recapture
  • How digital infrastructure (data centers, 5G, fiber) is reshaping investing
  • Why the U.S. infrastructure report card is a wake-up call and an opportunity

This conversation is more than a forecast. It is a call to understand the world you are retiring into and how to invest in what is coming next.

Resources:

Connect with Robert Curtiss:

Connect with Michael Underhill:

About Our Guest:

Michael Underhill is the Chief Investment Officer of Capital Innovations, a firm focused on infrastructure, energy, and ESG-aligned strategies. With decades of investment experience, Michael brings a deep understanding of macro trends and emerging opportunities in private and public markets. His team manages infrastructure-focused portfolios designed to align long-term capital with long-term value creation.

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