Benjamin Abramov is Canadian head of private markets research with Aon Hewitt. Abramov was previously vice president – private investments with University of Toronto Asset Management, which manages the university’s endowment. Institutional Investing in Infrastructure senior editor Drew Campbell spoke with Abramov about the co-investment market for infrastructure investment.
What do investors like about co-investment?
There are two main reasons we see for co-investments and others that we try to discourage. The two main reasons are reduced fees and the ability to structure a portfolio with specific risk/return and inflation-protection characteristics. With respect to fees, investors are becoming increasingly sophisticated in the infrastructure space, and high fees for access is no longer some