Infrastructure is often mentioned in the same breath as real estate. Both are long-term, income-producing real assets. But real estate has been part of institutional portfolios for decades now, while infrastructure is much newer. As such, fewer investors have allocations to infrastructure than to real estate, and those allocations tend to be smaller than their other real assets buckets. 

The headlines have been filled with news about Puerto Rico since the commonwealth’s Governor Alejandro Padilla said on June 29 the island’s debts are “not payable.” The fiscal reset of 2008 was global and sharp, bringing a “new normal” in its wake, and the full effects are finally catching up not only in Puerto Rico but across the Caribbean region. 

I spent most of my life in the San Francisco Bay Area before moving to Denver three years ago, and so when I traveled back in August for vacation and a little work, I got to see how much has changed.