Infrastructure funds have raised more than $100 billion in the past five years. Although the Great Recession slowed down the pace of fund raising — as well as transaction activity — infrastructure is seeing a resurgence of capital raising and investment opportunities.
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Infrastructure has always meant toll roads, bridges, airports and the like. And so, it wasn’t much of a stretch when infrastructure funds started to look at the real estate that begins and ends every road trip — the parking space.
The past two years have been a critical period for the infrastructure asset class. The sector went mainstream as governments worldwide announced financial measures to assist with liquidity directed at infrastructure, highlighting the critical role the sector plays in economic growth and development.
The year 2010 has been characterized by a global search for yield within equity markets, which has been positive for the entire global listed infrastructure asset class.
John Rodrigues is North American product development manager with Investment Property Databank (IPD), a global commercial real estate analytics firm that produces property indices for 25 markets around the world. He joined IPD in 2007, and is responsible for introducing new products to the U.S. market. In 2009, he began working with the infrastructure investment community to develop an unleveraged asset level global index and benchmark for infrastructure investors. Institutional Investing in Infrastructure senior editor, Drew Campbell, spoke with Rodrigues about this initiative.