Two decades ago, infrastructure didn’t even command its own allocation at all but a very few pioneering pension funds. Even 10 years back, it was often grouped among other “alternatives” in investor portfolios and was typically afforded a target of something like 4 percent to be invested in toll roads, power-generation infrastructure and gas pipelines.
But times have changed. Thanks in part to post-pandemic economic volatility, infrastructure as an asset class has increasingly risen in importance and profile. Its inherent attractive characteristics have even enabled it to rival other mainstream asset classes such as private equity and real estate. So how are institutional investors thinking about this once-staid part of the portfolio in 2026?
Fundamentally, it’s an “all-weather” asset class in the eyes of Ashley Ng, senior director and head of infrastructure investments at the Vancouver-based wealth manager Nicola Wealth. Revenues are typically produced by
