Real estate investors looking for long-term income have joined the move into infrastructure. And as interest has increased, particularly from the real assets sector, investors have begun looking beyond traditional infrastructure.

This changing investor base raises questions about what we mean by infrastructure.

Some investors have been looking at sectors that can be defined as social infrastructure. As a result, interest in investing in schools, hospitals, social care and community facilities has increased. Although social infrastructure is included in the EDHECinfra TIICS [The Infrastructure Company Classification Standard] definition, it is not covered by the GLIO Index or the GLIO members. A sector more attractive to real estate investors, perhaps?

Investors are also looking to infrastructure for cyclical reasons. The risks of recession in North America, and especially Europe, are high, but infrastructure offers stable returns during long periods and across c