SWFs eye West's plans to upgrade crumbling assets but face delays, competition

London

SOVEREIGN wealth funds are queuing up to finance the West's overhauls of crumbling roads, bridges and ports as public purse strings are loosened after a period of austerity, but they still face project delays and fierce competition for deals.

Offering strong and stable cashflows generated by service users, these investments hold huge appeal for a US$6.5 trillion industry that, with its focus on future generations, is able to lock up capital for years.