Institutional Investing in Infrastructure

June 1, 2018: Vol. 11, Number 6

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From the Current Issue

Infrastructure

Where does all the money go? Capital swells for infrastructure investment in Europe

A few weeks before he was holding hands with President Donald Trump on the steps of the White House, French President Emmanuel Macron gave a speech signaling that Americans weren’t the only people with whom France was seeking a new “entente cordiale.” Speaking to European politicians in March, former investment banker Macron hinted at the need for Europe’s governments to have a closer relationship with the financial sector if climate change targets were going to be met.

Infrastructure

A conversation with David Agnew: Asset recycling in the United States

David Agnew is a managing director and head of government affairs, Macquarie Infrastructure and Real Assets (MIRA) in the Americas. Agnew is MIRA’s liaison with federal, state and local governments, managing MIRA’s existing presence in the marketplace in the Americas as well as exploring new investment opportunities. Drew Campbell, senior editor of Institutional Investing in Infrastructure, recently asked Agnew about infrastructure asset recycling programs and their potential use in the United States as part of Trump administration policy.

Infrastructure

TrendWatch: Europe-focused infrastructure funds still in favor Global/multi-regional funds less attractive

Looking for trends in the infrastructure world is like doing the Sunday New York Times crossword. The clues seem straightforward enough — but you (or at least I) usually end up with more blanks than answers. With numbers bouncing around from year to year, the infrastructure fundraising world also offers more questions than answers.

Infrastructure

Filling the lending void: The infrastructure debt fund market continues to grow

Before the global financial crisis, which is known to be the worst financial crisis since the Great Depression in the 1930s, shocked the United States in 2007 and 2008, traditional banks were responsible for most of infrastructure debt financing. After the crisis, however, new regulations limited the ability of banks to provide loans, paving the way for infrastructure debt funds to step in and fill the finance void left by banks whose lending was curtailed by new regulations and a depressed global economy.

Infrastructure

Vintage funds: A look back at infrastructure fund performance

We still think about infrastructure as being a young asset class — and in comparison to others, it still is. But we are finally reaching the point where we can begin looking back at several vintage periods and analyzing how those funds performed during a variety of economic conditions.

Infrastructure

Meeting of the minds: Later this month, many of us will convene in Toronto for VIP Infrastructure

Later this month, many of us will convene in Toronto for VIP (Visions, Insights & Perspectives) Infrastructure. Looking over the agenda and seeing our dynamic line-up of experts, I wanted to provide a broad IREI perspective on each topic, which in reality is a reflection of our conversations with you, the readers of i3. I’ve spoken with many of you the past year and these are topics we’ve explored.