Institutional Investing in Infrastructure senior editor Drew Campbell spoke with three infrastructure debt managers about the current market. Below is an excerpt of this conversation with Tommaso Albanese, managing director and head of infrastructure with UBS Asset Management; Scott Inglis, managing director, MetLife Investments Private Capital Investors group; and Doug Zinkiewich, managing director and head of investment management with Integrated Asset Management Private Debt Group.
How did infrastructure debt strategies come about? Was it mostly a response to the 2008 global financial crisis, or were these strategies available before that time?
Scott Inglis: Infrastructure debt was primarily a bank-dominated market in Europe and was covered mostly by municipal bonds in the United States. During the financial crisis, banks had to shrink their balance sheets and thus reduce their outstanding loans. This allowed major ins