Infrastructure’s ability to attract increasing amounts of capital is once again confirmed with the world’s 50 largest institutional investors having committed $464.5 billion to the asset class, nearly $70 billion more than in last year’s Global Investor 50 ranking.
Almost half that – $222.5 billion – was committed by the top 10 institutions, which more or less maintained their positions from last year. The exception was AustralianSuper, which jumped seven places from number 15, displacing China Investment Corporation, which now sits at number 10.
There were more changes further down the list with the entry of seven institutions – one Korean, two North American and four from Australia, the latter propelled in part by the consolidation sweeping through that country’s superannuation funds industry.
Speaking of regions, North America-based investors prevailed, allocating $170.5 billion. Asia-Pacific’s investors were not far behind, committing $144 billion. Europe and the Middle East and Africa followed with $121 billion and $29 billion, respectively.
And as in previous years, public pensions continued to account for the lion’s share of capital allocated to the asset class with 37 institutions committing $333.7 billion to infrastructure.
The barrier to entry also grew higher from $2.05 billion last year to $2.7 billion, the amount the Oregon Public Employees’ Retirement System allocated to the asset class.