Subject. This paper discusses the holistic approach to the public management of investment in the economic and social infrastructure. The majority of economically developed countries have accepted this approach. Objectives. The paper aims to analyze foreign public management of investment in infrastructure and explore the possibility of introducing this approach in Russia. Methods. For the study, we used the methods of logical and comparative analyses, as well as a generalization of world best practices. Results. The paper formulates key characteristics of the holistic approach to the public management of infrastructure investment. It suggests a set of criteria allowing to evaluate the efficiency of investing in infrastructure projects. Conclusions and Relevance. The paper concludes that increasing the efficiency of public management of infrastructure investment in Russia is a multifold task. Its solution requires adoption of long-term national strategy of infrastructure development, forming new government management elements, providing a financial stability during the whole life-cycle of infrastructure project. The results of this research can be useful in investment project selection and project efficiency assessment.