Skip to content
Jordan PPP
Stained-glass illustration of robots and an AI tower, the art on the guide’s cover

Capital

Launch a PPP program for Sovereign Wealth and Pension Funds in Jordan

A free 17-page guide · The $500 trillion PPP infrastructure opportunity

What this guide is for

Your fund launches a long-term allocation that invests directly and as a co-investor in operating public-private partnership (PPP) projects, brownfield assets and tokenized holdings, and serves national development goals.

The case

Long-term owners hold a PPP for its whole life

Concessions run for decades and pay contracted, often inflation-linked revenue that matches the liabilities of a pension fund and the horizon of a sovereign fund. The assets of the next fifty years will be built, run and owned in new ways. This guide invites sovereign wealth and pension funds in Jordan to launch a PPP allocation, starting with the projects at home.

The guide

Own the $500 trillion PPP infrastructure opportunity

Your fund launches a dedicated PPP allocation, with a team, an investment policy and a set of partners, that owns operating projects for the long term, invests directly and beside infrastructure funds, and starts with Jordan’s $86 billion of projects and the $46 billion anchored in Aqaba.

  1. 01

    A long-term PPP allocation

    The fund sets aside a dedicated allocation for PPPs, with a horizon that matches the length of a concession and an investment policy built around contracted revenue, availability payments and the risk allocation in each agreement.

  2. 02

    Direct and co-investment

    The fund invests directly in project companies where it has the team to do so, and beside infrastructure funds, developers and banks where it does not, which lowers fees and builds its own capability with every deal.

  3. 03

    Brownfield first

    Operating assets carry no construction risk and come with a revenue record, so the allocation starts with brownfield PPPs and stakes that sponsors sell after completion, and moves into greenfield projects as the team gains experience.

  4. 04

    Small-scale PPPs and direct proposals

    Jordan’s PPP Regulation No. 9 of 2024 defines small-scale PPPs below $14.1 million, which can be bundled into one feasibility report and one tender, and PPP Law No. 19 of 2023 accepts direct private proposals under Article 15. A fund with a development mandate can gather small projects into one holding or bring a priority project to government itself.

  5. 05

    Tokenized holdings

    The fund holds part of its allocation as tokenized stakes in operating PPPs, which gives it a market price between full exits, lets it rebalance in small amounts and opens the same assets to citizens who want to invest in their own country’s infrastructure.

Page 5 of the guide: The guide
Page 5 of 17 · The guide

Why sovereign and pension funds

Long-term owners hold a PPP for its whole life

A concession runs for decades and pays contracted revenue the whole way. Sponsors often sell once the asset is complete, and the investors who buy from them hold it until handback, which is the role sovereign and pension funds are built for.

Where sovereign and pension funds fit in a PPP

Allocation
A long-term commitment to infrastructure that matches the horizon of the fund and its beneficiaries.
Direct equity
Stakes in project companies, held through construction or bought once the asset is operating.
Co-investment
Stakes beside infrastructure funds, developers and banks on larger projects, with lower fees and shared diligence.
Brownfield
Operating PPPs and stakes sold by sponsors after completion, with a revenue record and no construction risk.
National mandate
Projects that build national capacity in water, energy, transport and health, alongside the financial return.

What changes for long-term owners

AI, robotics and tokenization change how a long-term owner sees and holds its assets. Sensors and digital twins report condition and performance every day, so a fund with a small team can oversee direct holdings across many projects. Robotic inspection and maintenance keep assets in better condition through handback, and tokenized stakes give the fund a market price between full exits and a way to open a share to citizens.

Why a program, and why now

Without a program, a fund meets each PPP through someone else’s deal and pays fees for access it could build itself. A program gives the fund a team, an investment policy and partners that bring it into projects early and on its own terms. Jordan’s pipeline is large and early, and the long-term owners who commit while consortiums form will hold the assets for the life of each concession.

Page 13 of the guide: Why sovereign and pension funds
Page 13 of 17 · Why sovereign and pension funds
Stained-glass illustration of glowing stepping stones along a glass wall, leading toward a sunrise and a distant city of towers

Futureproofing

Futureproof Sovereign Wealth and Pension Funds in Jordan for the infrastructure singularity

This free 17-page guide shows how, with small PPPs in parallel, PPP research labs, artificial intelligence, robotics, tokenization and six first steps.

Stained-glass illustration of the Red Sea port of Aqaba at dawn

Jordan and Aqaba

An $86 billion pipeline to start with

Every one of them will need patient, long-term owners. A Jordanian fund that owns one operating PPP at home can hold the same kind of asset across the region for decades.

$86B
of PPP and infrastructure projects in development in Jordan
$46B
of them anchored in Aqaba
  • Artificial intelligence

    AI gives a long-term owner a clear view of what it holds. Investment teams can read a concession agreement, test a financial model and compare an asset against similar deals in hours, which makes direct investment possible with a lean team. Once the asset is operating, digital twins and sensors report its condition in real time, so the fund can value each holding on evidence and plan the maintenance that protects value until handback.

  • Robotics

    Robotics protects the value of an asset over the decades a long-term owner holds it. Drones that inspect roads, bridges and power lines, robots that find leaks inside pipes and machines that clean solar fields keep assets performing and cut the cost of maintenance. Assets that machines monitor and maintain reach handback in better condition, which protects the returns a pension or sovereign fund depends on.

  • Tokenization

    Tokenization gives a long-term owner liquidity without a full sale. The fund can hold its PPP stakes as tokens, sell small portions to rebalance, receive revenue through smart contracts as it arrives and open a share of national infrastructure to citizens, so a sovereign or pension allocation becomes a holding the public can join.

  • Small PPPs and research labs

    Small PPPs can serve as the research budget of a long-term portfolio. A modest allocation to labs and pilots shows a fund which technologies, contracts and operating models work before it commits patient capital to the large projects that will use them for decades.

  • Unsolicited proposals

    A direct proposal lets a long-term investor bring projects that match its own horizon and national development goals, with partners it trusts. In Jordan, dinar savings matched to dinar projects can take currency risk off the table, and proposals give the fund a way to shape those projects from the start.

The program

How the program could work

The program can sit inside the fund’s infrastructure or private markets team, with a PPP allocation at its center and partners chosen for each kind of investment.

Allocation
A dedicated PPP allocation with a horizon, a target return and a risk budget set for assets held over decades.
Investment policy
Rules built around contracted revenues, availability payments, inflation linkage and the risk allocation in each concession agreement.
Direct team
A small team of investment, asset management, legal and technical people that leads direct deals and oversees co-investments.
Brownfield
Stakes in operating PPPs in Jordan and the region, bought from sponsors once construction is complete.
Co-investment
Partnerships with infrastructure funds, developers and banks that offer the fund a share of the larger projects.
Tokenized holdings
A pilot that holds one operating PPP stake as tokens and opens a small share of it to citizens.
Mandate
Priority projects in sectors that build national capacity, including direct proposals under Article 15 and small-scale PPPs below $14.1 million.

What the fund gains

The fund gains long-dated assets backed by contracted, often inflation-linked revenue that matches the horizon of its beneficiaries, and direct access to projects at a lower cost than buying through intermediaries. Each project brings partners who can offer the fund the next one.

It also gains a role in building the economies its beneficiaries live in and a position in the next form of infrastructure ownership. The first long-term investor in the region to hold PPP stakes as tokens will set the standard for how operating infrastructure is owned and opened to the public.

Page 14 of the guide: The program
Page 14 of 17 · The program
Stained-glass illustration of glowing stepping stones rising toward a sunrise arch

Next steps

How a fund can start

Any sovereign wealth or pension fund in Jordan can take this guide forward. The first steps use the capital, people and mandate the fund already has.

  1. 01

    Mandate

    Board approval for a PPP allocation, with its share of the portfolio, its sectors and its development goals.

  2. 02

    Team

    A named allocation lead, with investment, risk, legal and technical people drawn from the fund’s existing teams.

  3. 03

    Pipeline

    A map of Jordan’s $86 billion of projects by sector and stage, with the operating PPPs and stakes that may come up for sale.

  4. 04

    Structures

    Direct, co-investment and tokenized holding structures, matched in dinars to the fund’s long-dated obligations.

  5. 05

    Partners

    Co-investment with banks, infrastructure funds, developers and operators.

  6. 06

    Pilot

    A first stake in an operating PPP, a lab or a small-scale PPP, taken from idea to investment committee.

Jordan has the projects and a pipeline that will need owners for decades. A PPP program gives your fund the long-dated assets it was built to hold and a lasting share in the superintelligent infrastructure future.

The full document

Inside this guide

Seventeen pages and thirteen sections, from the case for a PPP program to the first steps, written for sovereign wealth and pension funds in Jordan.

Download the guide (PDF)
  1. 01IntroductionWhy a century of infrastructure needs rebuilding, and the $500 trillion it will take.p. 3
  2. 02The guideOwn the $500 trillion PPP infrastructure opportunityp. 5
  3. 03Jordan and AqabaAn $86 billion pipeline to start withp. 6
  4. 04Artificial intelligenceHow AI designs, structures and runs PPP projects, and what it means for sovereign and pension funds.p. 7
  5. 05RoboticsHow robots build infrastructure and keep it running, and what that means for sovereign and pension funds.p. 8
  6. 06TokenizationHow tokenization funds projects from their own revenue, and the role it opens for sovereign and pension funds.p. 9
  7. 07Small PPPs in parallelWhy many small PPPs teach a country faster than a few large ones.p. 10
  8. 08PPP research labsA lab in each sector, running ten small PPP projects a year.p. 11
  9. 09Unsolicited proposalsHow Jordan’s PPP law accepts direct proposals from private companies.p. 12
  10. 10Why sovereign and pension fundsLong-term owners hold a PPP for its whole lifep. 13
  11. 11The programThe program can sit inside the fund’s infrastructure or private markets team, with a PPP allocation at its center and partners chosen for each kind of investment.p. 14
  12. 12AboutAbout Jordan PPP and what it offers.p. 15
  13. 13Next stepsHow a fund can start: six first steps.p. 16

Questions

Questions about the guide for Sovereign Wealth and Pension Funds in Jordan

What does the guide for Sovereign Wealth and Pension Funds in Jordan propose?
Your fund launches a long-term allocation that invests directly and as a co-investor in operating public-private partnership (PPP) projects, brownfield assets and tokenized holdings, and serves national development goals.
Why should sovereign wealth and pension funds in Jordan launch a PPP program?
Long-term owners hold a PPP for its whole life. A concession runs for decades and pays contracted revenue the whole way. Sponsors often sell once the asset is complete, and the investors who buy from them hold it until handback, which is the role sovereign and pension funds are built for.
Which PPP projects can sovereign wealth and pension funds in Jordan take part in?
Jordan has about $86 billion of PPP and infrastructure projects in development, $46 billion of them anchored in Aqaba. Every one of them will need patient, long-term owners. A Jordanian fund that owns one operating PPP at home can hold the same kind of asset across the region for decades.
How can sovereign wealth and pension funds in Jordan start a PPP program?
Any sovereign wealth or pension fund in Jordan can take this guide forward. The first steps use the capital, people and mandate the fund already has. The guide sets out six first steps: mandate, team, pipeline, structures, partners and pilot.
What does a PPP program give sovereign wealth and pension funds in Jordan?
The fund gains long-dated assets backed by contracted, often inflation-linked revenue that matches the horizon of its beneficiaries, and direct access to projects at a lower cost than buying through intermediaries. Each project brings partners who can offer the fund the next one.
Is the guide for Sovereign Wealth and Pension Funds in Jordan free?
Yes. It is free to read on this page and free to download as a 17-page PDF, with the case for a PPP program, Jordan’s pipeline, the role of AI, robotics and tokenization, the program and six first steps.