What’s so appealing about secondhand infrastructure? Infrastructure is particularly well suited for secondaries, given that long-lived assets are commonly misaligned with investor horizons.

The asset class that prides itself on providing predictable contracted cash flows and inflation protection via essential hard assets has lived up to this promise, resulting in low-friction costs associated with transacting in the secondary market. This is evidenced by relatively resilient and strong observed valuations for infrastructure secondaries relative to other asset classes.

Beyond the generic premise of secondaries providing access to seasoned assets, and thereby accelerated liquidity, secondaries can offer superior returns versus primary investing, discounts aside. Leveraging our propriet