Source: Economist

WHEN the Pennsylvania turnpike opened on October 1st 1940, motorists queued for hours to travel on what was called "America's first superhighway". Now investors are waiting in line for the toll road, which may become the next bit of American infrastructure to be privatised. Forty-eight firms expressed an interest in leasing the road, after Governor Ed Rendell floated the idea.

Unusually, America is catching up with a trend that was pioneered elsewhere—in this case as far away as Australia. Infrastructure has become the most fashionable of asset classes, as governments desperate for cash link up with pension funds desperate to diversify out of shares and bonds.

Full story...

Posted by pichu at January 18, 2007 9:28 PM