Infrastructure as an asset class can represent a less correlated or even non-correlated return to typical public markets and real estate. Generally, these investments are involved with movement and storage of goods, people, water, and energy. It is estimated that $45 trillion will be required to modernize and expand water, electricity and transportation systems in the U.S., Canada and Western Europe over the next 15 years. These assets can provide portfolio diversification with the potential for stable cash yields. The demand for core plus private infrastructure has been particularly strong because these investments seek to offer long-term exposure to relatively stable, economically insensitive, inflation protected cash flows. These assets have the potential to generate low volatility, consistent growth of cash flows and returns that are uncorrelated with other asset classes, resulting in very attractive diversification benefits for investors.