Institutional Investing in Infrastructure

December 1, 2019: Vol. 12, Number 11

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From the Current Issue


The global listed infrastructure report: Essential news and notes

The following report reviews highlights of some of the events and trends affecting global listed infrastructure companies in recent months. The Global Listed Infrastructure Organisation (GLIO) coverage of core infrastructure companies displays a rolling one-year performance (October to October) of 21.9 percent with the telecom infrastructure (40 percent) and Water Utilities (35 percent) sectors leading the way over the same period.


Public pensions and public infrastructure: How they can sustain each other

Among the most significant public finance challenges facing many countries is the need to find innovative solutions to sustainable pension funding — ensuring that pension contributions, investment returns and tax-based supplements will meet promises made to public sector beneficiaries. A parallel public finance shortfall is infrastructure underinvestment, which can seriously impair economic performance.


The infrastructure benchmark report: Facts and figures from the latest quarter

The Global Unlisted Infrastructure Equity, Value-weighted (U.S.-dollar) Index is a market-value weighted representation of the global private infrastructure equity market. It covers all investable infrastructure sectors. Index constituents include all business models and both infrastructure projects (special purpose vehicles) and corporates. As of Sept. 20, 2019, the index had a total market capitalization of $337.35 billion, representing 516 firms. Since inception, a total of 621 firms have been included in this index.


The money talks: Investors, managers and consultants met in Chicago to discuss global infrastructure investing

In November, Institutional Investing in Infrastructure’s Editorial Advisory Board met in Chicago over three days to discuss global infrastructure investing. i3’s board comprises 43 members: 15 institutional investors, including public and corporate pensions, sovereign wealth funds, and insurance companies, with nearly $1.5 trillion in total assets under management and more than $44 billion in infrastructure holdings; 10 consultants with more than $4.3 trillion in total assets under management and more than $62 billion in infrastructure assets under advisement; and 16 investment managers and placement agents, with an aggregate $2.1 trillion in assets under management and $154 billion in infrastructure holdings. Other board members include infrastructure policy experts from academia and government.


Notes from the road: Academic board meetings, roundtables and the i3 Editorial Advisory Board

In the July/August issue of i3, I wrote the Market Perspective “Notes from the road” and, as I mentioned then, IREI is uniquely positioned as a firm to speak with various participants in our market. This is because we are not focused as much as our readers are on deal closings and/or fund raising, which is different for a publication in our market. We put a lot of our focus on institutional investors’ infrastructure programs and allocations and the capital formation that comes from this part of the market.


Political uncertainty, ESG, cautious investors: A whistle-stop tour of global infrastructure

Infrastructure investors operate in increasingly uncertain times. Compared with past years, observers note that global politics is lacking continuity. We note the rise of populist governments in many regions — and busy election calendars during the first half-year across Asia and the past year in Latin America (with Argentina yet to come). Downward regulatory tariff revisions in Europe equally add to this uncertainty. Finally, protectionist policies have given rise to trade tensions between economic powerhouses such as the United States and China.


The blockchain gang: Exchanges and other venues are looking to bring efficiency to transactions and securities markets in order to unlock crowdfunding for infrastructure

Were it not for the written word, Homer’s Odyssey — and other indelible fragments of our oral history — would have been another opus lost to the winds of time. The modest process of rec-ord keeping, transforming from purely dictation to the written script, preserved so much of the past we now cherish. Millenia later, as that process evolved to cyberspace, record keeping has become as much about facilitating business operations and brokering trust between transact-ing parties as preserving great works of art.

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