ABSTRACT
The objectives of this paper are to reflect and assess infrastructure as an asset class and to analyse the regulatory changes that are underway to allow institutional investors to play a larger role in infrastructure investment. The methodology to address the objectives was a systematic review of infrastructure-related literature and case study analysis of institutional investment in infrastructure from selected African countries. The findings from the study showed that investment features of infrastructure contribute to making infrastructure a unique investment prospect for public and private investors. The research has also analysed regulatory changes to Regulation 28 under the South African Pension Funds Act 24 of 1956 that are intended to foster more investment into infrastructure through private equity. The research presents practical implications for institutional investors, with regard to the different infrastructure related financial products and investment channels which they can pursue in infrastructure investing on the African continent.
