Institutional Investing in Infrastructure

June 1, 2016: Vol. 9 Number 6

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From the Current Issue

Infrastructure

Climate control: In Paris, the world acknowledged the risks of climate change and committed to solutions. What comes next for infrastructure investors?

If you spend any time reading climate scientists’ prognostications for the future of the planet — not recommended for the faint of heart — it is clear the risks of climate change are real and will impact infrastructure and communities in a variety of ways. Stronger storms, rising sea levels and more intense heat already pose challenges to infrastructure built decades ago and underwritten without a full recognition of how changing climate might challenge its performance and affect the communities it serves.  

Infrastructure

Onward and upward: Or, up the learning curve I climb

In April of 2015, my boss, Jonathan Schein, senior vice president of global business development at Institutional Real Estate, Inc., asked me about taking on business development for Institutional Investing in Infrastructure. My first reaction was “No!” The only thing I knew about infrastructure — bridges, toll roads, trains, airports — was how to use them, and, well, I hadn’t even heard of a P3 at the time. 

Infrastructure

Financing Asian infrastructure: Investment vehicles and P3s

The following article is the third of several excerpts that have appeared in i3 from Infrastructure Investment, Private Finance, and Institutional Investors: Asia from a Global Perspective, a report commissioned by the Asian Development Bank Institute that reviews infrastructure investment and finance in Asia from a global perspective. The report with footnotes and references is available at www.georginderst.comwww.adb.org, or http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2721577

The previous excerpt provided an overview of the sources of infrastructure finance for projects in Asia. The next excerpt will cover institutional investors as financiers of Asian infrastructure and will be published in the July/August issue.

Infrastructure

Global infrastructure securities: Listed infrastructure outperforms in Q1

The first quarter of 2016 was defined by two distinct halves. The first half was marked with extreme periods of volatility as the MSCI World and S&P 500 Indexes fell 11.7 percent and 10.5 percent, respectively, through February 11 before staging a historic intra-quarter rally during the latter half. Global equities, as measured by the MSCI World Index, returned –0.2 percent in the quarter. 

Infrastructure

Headed down: Fewer funds launched and closed YTD 2016 vs. 2015

Infrastructure fundraising during the past few years has been difficult to characterize. The asset class closed on $55.5 billion in capital during 2013, saw only $48.7 billion raised in 2014, then bounced back to $55.4 billion by the end of 2015. During that time, the number of funds closed per year fell steadily, with 35 funds closed in 2013, 34 in 2014 and 29 in 2015. 

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