Large core infrastructure assets stole the spotlight in the early years of the infrastructure market’s evolution. Now that spotlight is veering toward other sectors, especially smaller, mid-market asset opportunities.

Smaller mid-market infrastructure deals, typically defined by an equity value between $50 million and $1 billion, have always been transacted. But they were mostly overlooked by the market as investors scrambled into huge global funds that sought large deals to invest the loads of capital raised.

But mid-market strategies are getting far more attention now. They are smaller bites, but industry watchers say they offer attractive relative returns, and limited partners can actually see their capital being invested.

“A number of managers say this, but it is true,” says Tom Maher, head of business development for Whitehelm Capital, an Australia-based mid-market infrastructure specialist. “There is much more attractive deal flow and relative valu