The prosperity of urban life is dependent on its infrastructure. Urban underground infrastructure components (assets) are aging and need regular monitoring, maintenance and rehabilitation. These assets are often placed under pavements and in close vicinity to each other. Managing them in a coordinated way is rational considering costs and disruption of services and communities caused by each intervention on the different assets. Recently, interest in practice as well as in research has grown to manage urban infrastructures in a coordinated way. This article reviews journal articles and grey literature to evaluate managing these infrastructures in an integrated way (i.e. the highest level of coordination) and describe possible obstacles for doing so. This article identifies seven main challenges of integrated multi-infrastructure asset management (IMAM) that need to be addressed by practitioners and researchers. These challenges are related to: (i) dependencies and interdependencies, (ii) data quality, availability and interoperability, (iii) uncertainties in modelling and decision-making, (iv) comparability, (v) problems of scale, (vi) problems of fit and (vii) problems of interplay. This article provides details on these challenges and discusses future research and practical directions.