Michael Barben is a partner, head of the private infrastructure team and chairman of the private infrastructure investment committee of Partners Group, headquartered in Zug, Switzerland. Previously, he was responsible for European buyout and special situations partnership selection, as well as for building the firm’s U.S.-based manager selection team, and subsequently was appointed global head of the alternative strategies manager selection team. Institutional Real Estate, Inc. senior editor, Sheila Hopkins, spoke to him about accessing the infrastructure space.
How would you describe the infrastructure class?
We look for four basic characteristics to define infrastructure from the investor’s perspective. First of all, the assets should have long-term visibility and cash flow stability. The cash flows are typically generated by an asset providing a service that is essential for the economy (e.g., transportation, water, energy, etc.). Secondly, they are l