Pension fund investments in infrastructure

Abstract Infrastructure investment is increasingly important for institutional investors. This paper focuses on pension fund allocations to infrastructure, using the CEM Benchmarking database. We document that larger funds, public and funds with a higher allocation other alternative assets are more likely invest in infrastructure. Pension across globe face infrastructure costs comparable, but we observe significant scale advantages investments, exhibiting lower costs, net returns. Importantly, has been among best-performing asset classes, as measured by returns, persistence performance over one-year horizon.