Pick your analogy — you have to walk before you can run, the first inning of a nine-inning game or any other. Infrastructure investing is a new endeavor for many, but not for all. We hosted our first Institutional Investing in Infrastructure conference in 2006. I remember sitting next to an investor from a trade pension, and at the end of a day of panels and presentations, he expressed in exasperation what I also was feeling — that the information and data being delivered was overwhelming.

In later years, I didn’t see him at the event, and there are others like him who probably weighed the opportunity cost when deciding whether to pursue infrastructure investment or not. It takes time and energy and money to learn the language of infrastructure investing — let alone what makes a good investment.

Most of these investors are working with very limited budgets, and some have undoubtedly decided their resources would be better spent in markets in which