Over the last decade there has been a transformation in the ownership of the world’s economic infrastructure. The combination of a strong supply of assets and the need for governments and companies around the world to reduce debt has led to $1.7 trillion being invested into infrastructure assets globally.
This transformation has been driven by an influx of capital and investors seeking long term, stable returns. More than $200bn has been raised by specialist funds since 2006, with at least the same again allocated by pension funds and other direct investors. Much of the world’s infrastructure is now in the hands of specialist private investors.
Evidence of recent performance suggests that many investors appreciate the needs and public status of their assets and are responsible, committed long term stewards. However this significant change has brought its benefits and challenges to these infrastructure assets under management.
This report, produced by PwC in conjunction with the Global Infrastructure Investors Association (GIIA), draws from evidence built over the last decade of global infrastructure investments. We have combined research, analysis and a series of case studies based on investments made by GIIA members.
In compiling this report, a number of consistent themes have emerged around the investment, management, and governance of major infrastructure assets held by private sector investors.