Infrastructure asset class

Infrastructure assets typically have a low correlation with other asset classes, including listed equities, real estate and fixed income.

The quality and predictability of their cash flows tend to provide for stable returns to shareholders over time. We aim to invest across a range of economic infrastructure sectors.

Portfolio value by investment (at 30 September 2023)              

  • TCR 15%
  • ESVAGT 13%
  • Infinis 11%
  • Tampnet 9%
  • Global Cloud Xchange 9%
  • Ionisos 8%
  • Joulz 7%
  • SRL Traffic Systems 6%
  • Oystercatcher 6%
  • Attero 5%
  • Valorem 5%
  • DNS:NET 4%
  • Future Biogas 2%
GREEN DOT Energy transition
PINK DOT Digitalisation
DARK BLUE DOT Demographic change
BLUE DOT Upgrading ageing infrastructure


The characteristics we look for in new infrastructure investments

We look to build and maintain a diversified portfolio of assets, across a range of geographies and sectors, whilst adhering to a set of core investment characteristics and risk factors.

The Investment Manager has a rigorous process for identifying, screening and selecting investments to pursue. Although investments may be made into a range of sectors, the Investment Manager typically focuses on identifying investments that meet most or all of the following criteria and are aligned with indentified megatrends:

Asset intensive business

Owning or having exclusive access under long-term contracts to assets that are essential to deliver the service.

Good visibility of future cash flows

Long-term contracts or sustainable demand that allow us to forecast future performance with a reasonable degree of confidence.

Asset bases that are hard to replicate

Assets that require time and significant capital or technical expertise to develop, with low risk of technological disruption.

An acceptable element of demand or market risk

Businesses that have downside protection, but the opportunity for outperformance.

Provide essential services

Services that are an integral part of a customer’s business or operating requirements, or are essential to everyday life.

Opportunities for further growth

Opportunities to grow or to develop the business into new markets, either organically or through targeted M&A.

Established market position

Businesses that have a longstanding position, reputation and relationship with their customers – leading to high renewal and retention rates.


Businesses that meet our Responsible Investing criteria, with opportunities to improve sustainability and ESG standards.

About 3i Infrastructure

James Dawes, CFO, Infrastructure, speaks to AJ Bell’s Shares Magazine about 3i Infrastructure and the megatrends underpinning our strategy.

What we do

Find out how 3i Infrastructure provides public market investors with access to a differentiated portfolio of private infrastructure businesses.

As at 30 September 2023, the Company has a portfolio of 13 assets, valued at £3.9bn.