Retail investors can be involved either during the establishment of the infrastructure (at the primary stage) or once it is all up and running (the secondary stage). Investing during the primary stage can expose investors to a greater range of risk, including the risks inherent in the construction/development of the infrastructure. Investors will also have no or little return for their investment during this period, which is likely to be unattractive. It seems to be a better fit for retail investors to invest at the secondary stage when there is a more established risk profile with an immediate yield.