UBS Asset Management is focusing on improving infrastructure investments it already owns as the weakest dealmaking environment in a decade limits opportunities to buy new assets.

The $1.5 trillion investment arm of the Swiss lender is adding more powerful turbines at its Texas wind farms venture, Phoenix Wind Repower LLC, while replacing older copper routes with new fiber networks in the French and German countryside through Altitude Infra and Northern Fibre Networks, said Andrew Morris, UBS Asset’s head of infrastructure equity.