"Recent attention has been given to ""property-related"" assets to provide enhanced returns in an investment portfolio. As such, infrastructure has taken on increased investment importance in recent years. The purpose of this paper is to assess the significance of European infrastructure in a portfolio, with the infrastructure sub-sectors of toll roads, airports and ports also assessed. The risk-adjusted performance analysis and portfolio diversification benefits of European infrastructure over 1990-2006 will be assessed; benchmarked against the performance of the other major European assets. The strategic investment issues for infrastructure in a portfolio will also be identified."