In their 2023 book The Missing Billionaires: A Guide to Better Financial Decisions, Victor Haghani and James White present a thought-provoking essay titled “Extrapolators Beware the Money Pump.” It is a cautionary tale about how investors who base decisions solely on past returns can be systematically exploited — even when investing in assets with positive expected returns.

The infrastructure industry plays a unique role in the push for net zero. It is both part of the problem and a critical part of the solution.

The rapid expansion of data centers, primarily fueled by the exponential growth of artificial intelligence (AI), has driven an unprecedented surge in electricity demand across the United States.

As the United States confronts the challenges of rising utility costs, surging energy demand and grid constraints, a key growth engine for tomorrow’s power system is emerging — not from large utility-scale plants, but from distributed assets deployed close to the local communities and businesses they serve.

The European electricity market is undergoing a substantial transformation. After years of stagnation, a clear increase in electricity demand is now emerging, driven by electrification and new consumers such as data centers. As a result, the market faces major challenges in ensuring sufficient generation capacity.

In a sponsored interview published in the January issue of Institutional Investing in Infrastructure (i3), Evan Nahnsen, head of private debt infrastructure at QIC, looks how private debt is playing a role in this transition and at the energy subsectors that are particularly attractive.

Ashley Hough, Ancala’s head of asset management, explains how the firm’s proactive management strategy results in success in the middle market.

In a sponsored interview, Quinbrook’s CEO Brian Restall explains how Australia compares with other global investment destinations.