However, the broader plan is critical, said Sausmikat, noting it isn’t just about government spending; it’s about a hybrid model where public policy is creating the conditions for private capital to participate in assets that have increasingly become more commercial in nature.
Read: Institutional investors can help bridge Canada’s $34 billion infrastructure spending gap: report
Moreover, he added, Canada has a combination of factors that create a fertile ground for infrastructure investment. Megatrends such as digitalization, energy transition, sovereignty and resilience are converging in Canada in a particularly powerful way, supported by a strong institutional framework and established institutions.
The message is resonating, said Sausmikat, pointing to the results of a recent survey by the Global Infrastructure Investor Association that ranked Canada as the most attractive investment destination for infrastructure globally.
As investors look at Canadian infrastructure opportunities, it’s worth remembering they sit on a spectrum, he noted. Operational execution is key across the board, but one end is more closely aligned with the predictable, contracted cash-flow model of fixed income, while the other sees returns driven principally by asset-based growth and expansion.
Capital allocation is increasingly moving towards value-add strategies within infrastructure as a way to access structural growth — but through assets that still retain the resilience and defensive attributes associated with the asset class.
Read: 2026 Global Investment Conference: Panel: Financing the growing global infrastructure gap
Sharing examples of value-add infrastructure, Sausmikat highlighted recent investments by InfraRed Capital Partners into Hullo Ferry and Qu data centres.
The former is a high-speed, passenger ferry service from downtown Vancouver to Nanaimo on Vancouver Island. The investment combines classic defensive characteristics, such as high barriers to entry and strong resiliency, based on established passenger demand and exclusivity on the route, with major growth potential, since the service creates a significant volume of new demand based on its convenience, attractiveness and reduced travel time compared with alternatives.
Qu is an investment in a portfolio of nine data centres in five markets across Canada. “Importantly, these are co-location data centres, not hyperscale,” said Sausmikat. “This means they primarily service key sectors of the economy: financial and security services, health care and even some government services. So they’re embedded in the domestic economy and provide the resilient infrastructure characteristics that we look for.”
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