More people. More cities. More buildings. More infrastructure.

Infrastructure is turning out to be an asset class that, while appearing mostly immeuble, is fundamentally different from real estate requiring, among many things, strong and more diverse technical skills to develop and manage. A recent article about the EDHECinfra Days Conference says this asset class may have reached a defining moment.

The word itself originated in 19th century France, as that part of a roadway beneath its surface material. Infratranslates as below, beneath, and within. It used to be called public works. A broad definition of infrastructure is general public facilities that are essential prerequisites for economic life. The editors of the Economics of Infrastructure Provisioninglist several subcategories of infrastructure: tangible infrastructure such as roads and water, energy, and information distribution systems; intangible infrastructure like social services; institutions such as legal systems; culture and traditions. Some forms of infrastructure are considered merit goods – museums, public clinics and schools, for example – because the public at large may not understand their larger value.