.. BIP ...If not now...when?

Never is one option.

Why not own BN only and be done with it. You will get exposure to all existing Brookfield entities including Oaktree, the upcoming insurance business and all future new businesses and acquisitions. Plus they will take care of reinvesting most of the earnings, which I prefer instead of receiving dividends. Starting from current price levels (for the record 29.15 on 10/27/23) for a holding period of at least 5 years should lead to good results.

FWIW, for my Brookfield allocation, BN is all I have. Over the past few months I sold all BAM which I received from the spin off and rolled the proceeds into BN. I hope it works out but who knows because there are no guarantees. All you can do as an investor is to keep an open mind and monitor actual business results like a hawk. I am eagerly looking forward to 3Q results from all the entities which will start flowing from next week.

However, if BIP in particular is what your heart is set on, I suggest going through everything below including all the reader comments, and then decide for yourself whether to proceed.

A Short Report Questions Brookfield Infrastructure And Makes Me Rethink My Position
seekingalpha.com - A short report questions brookfield infrastructure and makes me rethink my position

Brookfield Infrastructure: An Investment Holding Company At 2x NAV
seekingalpha.com - Brookfield infrastructure an investment holding company at 2x nav

Dalrymple Finance Short Video
zer0es.tv - A wasting trust at 2x nav

Dalrymple Finance Short Full Report PDF
Substack: PDF document

Brookfield Infrastructure Partners 2023 Investor Day
YouTube: Brookfield Infrastructure Partners: 2023 Investor Day Presentation (Brookfield)

BIP 3Q earnings call on Nov 1, 2023
bip.brookfield.com - Brookfield infrastructure host third quarter results conference call