Institutional Investing in Infrastructure

January 1, 2021: Vol. 14, Number 1

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From the Current Issue

Infrastructure

Infrastructure outlook — key themes for 2021. Light at the end of the tunnel?

At year end, the infrastructure sector looked to have weathered the COVID-19 crisis reasonably well. While certain subsectors were severely impacted, first quarter 2020 valuations for the sector were more resilient than other alternative asset classes and infrastructure companies saw fewer downgrades and defaults than their equivalent corporates.

Infrastructure

The state of collaboration: Investing in infrastructure through public- and private-sector teams has a role in the post COVID-19 recovery

The state of public-private collaboration in U.S. infrastructure markets has never been a straightforward story. There is always a lot of activity and forces working under the surface. Oddly, with the full effects of COVID-19 still unclear and a new Biden administration on deck, there seems to be as much roiling under the hood as ever.

Infrastructure

Learning to surf: COVID-19's second wave is putting investors to the test

The expression says, “You can’t stop the waves, but you can learn to surf.” Institutional investors are doing just that as they adjust investments for a second wave of the pandemic. Let’s go back in time. Back to 2019, when the word “pandemic” was not a commonly used word and the North American (and world) economic engine was running on all cylinders.

Infrastructure

The global listed infrastructure report: Essential news and notes

The GLIO Index of infrastructure companies climbed 8.2 percent in November, its fourth largest one-month rally since 1999, as the U.S. election was decided and COVID-19 vaccines hit the headlines. Transportation recovered strongly (15.3 percent), driven by sizeable gains in toll roads (22.8 percent) and airports (26.3 percent) as investors welcomed the prospect of travel recovery. Railroads also posted a large advance (12.5 percent). Energy transportation and storage pushed forward (16.2 percent).

Infrastructure

Infrastructure 101: A guide to white papers and reports focused on infrastructure investing

Hydrogen era no longer a distant mirage by S&P Global Market Intelligence The complete report, which was published in November 2020, is available at https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/hydrogen-era-no-longer-a-distant-mirage-61216416 Excerpt: This is the first of a five-part series exploring the burgeoning hydrogen economy and its rise — after decades of false dawns — to the top of the energy agenda in 2020.

Infrastructure

Infrastructure fundraising keeps pace: Capital raising in 2020 is in-line with previous years

According to IREI’s FundTracker database, preliminary numbers show, infrastructure fundraising in 2020 is in-line with previous years. Through Dec. 10, 36 funds had raised more than $76.2 billion in equity capital. In 2019, $84.9 billion was raised through 30 fund closings, and in 2018, 38 funds closed on $75.6 billion.

Infrastructure

From red to blue: Five consequences of a Biden administration for U.S. energy

President-elect Joe Biden has promised U.S. voters a radically different energy policy compared with sitting President Donald Trump, one focused on boosting renewables to address the threat of climate change. He will enter the White House with a goal of setting the United States on course for net-zero greenhouse gas emissions by 2050 and will recommit the country to the Paris climate agreement.

Infrastructure

Why infrastructure debt makes sense for liability-driven investors

Institutional investors deploying liability-driven investing (LDI) strategies face a perennial challenge of finding optimal ways to match assets and liabilities within an investment world full of constraints. That’s especially true now after the COVID-19 crisis has roiled financial markets and disrupted the global economy in ways that may take years to recover.