PSP Investments 
PSP’s transport franchise won for an exceptionally comprehensive entry combining scale, diversification and demonstrated performance across airports, roads, ports and rolling stock.

Judges pointed to 10.1% one-year and 15% five-year infrastructure returns as strong quantitative backing for a strategy dating to 1999, with infrastructure introduced as an asset class in 2006.

Recent moves, including the AGS Airports acquisition and a 7.51% stake in 407 ETR alongside fellow pension investors, showed both sourcing capability and active portfolio management, complementing existing holdings in AviAlliance, Forth ports and Angel Trains rolling stock across North America and Europe.

Judges liked the dual ownership model, mixing wholly or majority-owned platforms with strategic minority stakes through consortium partnerships, for the flexibility it gives PSP to respond as travel technology, demand and regulation evolve. Judges concluded that the combination of scale, consistent double-digit performance and genuine active ownership, supported by sophisticated sourcing capability and strong operational expertise, made this one of the strongest entries across the entire awards programme.