Sovereign wealth funds have earned outsized attention in recent years for their large, often aggressive, private equity deals. They have certainly had solid growth but are still a relatively small portion of the institutional universe, and as they increasingly focus on infrastructure, they are drawing similar attention.
From the Current Issue
With 40 stations linking Reading in the west through London’s city center and out to Essex in the east, the Crossrail project is transforming the real estate landscape around the British capital. The boom in projects along the line demonstrates the transformative powers of infrastructure investment, and the project will be a yardstick for western nations when they consider upgrading their own transport networks.
The following article is the first of several excerpts that will appear in I3 from Institutional Investment in Infrastructure in Emerging Markets and Developing Economies,a report commissioned by the World Bank and the Public-Private Infrastructure Advisory reviewing the role of institutional investors in financing infrastructure in emerging markets and developing economies.
It’s probably not news to anyone who reads I3 that Quebec’s leading public pension fund manager — Caisse de dépôt et placement du Québec — is the latest in a string of Canadian retirement systems to flex its investment management prowess. The C$215 billion Caisse de dépôt just signed a deal with the Quebec government to jointly invest in and operate infrastructure assets. Not only that, it plans to double its infrastructure portfolio to more than $16 billion during the next four to five years.
A number of energy-focused funds aiming to raise more than $1 billion each have reached fundraising closes of various stages.
The following is a review of third and fourth quarter 2014 research notes by Moody’s Investors Service and Standard & Poor’s.