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The recent emergence of infrastructure as a specialist asset class has coincided with a growing recognition that basic infrastructure is an essential precondition for sustainable economic growth

While much of the recent debate has focused on the need to remedy historic under-investment in Victorian British sewers and crumbling American highways, the importance of infrastructure investment for the continuing prosperity of emerging economies is perhaps the more acute question. Over the next few years, the investment opportunities for investors in emerging markets could greatly exceed anything that we see in the West. Any visitor who has travelled along the pot-holed highways of Mumbai or Bangalore will attest to the fact that a dynamic economy such as India's, which is growing at ov...

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