The Canada Pension Plan Investment Board (CPPIB) announced in April that it was taking significant minority stakes in five Chilean toll roads.
Andre Bourbonnais, senior vice president of private investments for CPPIB, said in a company statement: "The addition of these five major urban toll roads in Chile is an excellent opportunity to expand our infrastructure portfolio in a developing market. Chile's strong economic growth prospects and its stable legal and regulatory framework make it an attractive country for investors like CPPIB. As a long-term investor, we seek infrastructure assets that will deliver stable returns over a prolonged period."
Investors considering the infrastructure play might also think about the technology behind such growth. For instance, Itron (ITRI) helps utilities with meters and other services and is expanding in the smart-grid arena.
The bottom line for investors: When looking around the emerging globe for ideas, think beyond the development stage to the resources, technology, and manpower necessary to sustain such projects for years to come.
Corrected on 05/03/2012: A previous version of this story misspelled the name of Bob Becker, co-manager of the Cohen and Steers Global Infrastructure Fund.
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