The various quoted infrastructure funds that are featured here regularly have had a good run but there are signs that their growth is becoming constrained. Put bluntly, there are not enough public-private projects being created and there is growing demand among investors for such assets while the decline in sterling means they are now cheaper to overseas buyers.
Most of the previous wave of PPP projects are now in the hands of long-term investors. John Laing Infrastructure Fund (Jlif) has one advantage, first rights to any that are put onto the market from John Laing itself, and this relationship provided almost a third of the £306 million that was invested in 2016.
Last year it made its first acquisition in the US, a motorway service