Institutional Investing in Infrastructure

September 1, 2021: Vol. 14, Number 8

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From the Current Issue


Infrastructure 101: A guide to white papers and reports focused on infrastructure investing

The major British cities outside London, with some exceptions, lack the large-scale, integrated public transport systems that are a feature of comparable cities on the continent, such as Lyon, Rotterdam, Cologne or Barcelona. Perhaps more surprisingly, there is also a growing gap with many mid-size U.S. cities, which have seen significant light-rail development over the past decade. By any measure, the rollout of tram and other mass-transit city region schemes in Britain has been disappointing over the past 20 years. Their absence is holding back growth and productivity.


It will take 40 years to repair the number of structurally deficient U.S. bridges, analysis finds

It will take 40 years to repair the number of structurally deficient U.S. bridges, analysis finds More than 220,000 U.S. bridges need major repair work or should be replaced; however, at the current pace of rehabilitation, it would take four decades to repair the current backlog of structurally deficient bridges nationally, according to an analysis from the American Road & Transportation Builders Association (ARTBA).


Waste’s winning formula: Waste management infrastructure has attracted investor attention during COVID-19

One of the infrastructure asset classes that has endured during the pandemic, and shown its resilience, is waste. This is to be expected, as people will always produce waste, even during lockdowns, requiring the use of waste services for treatment and disposal. But it seems to have avoided the limelight when talking about asset classes that have performed well over the past year or so — with digital and communications perhaps the sector hailed as the one that has benefited the most.


Infrastructure 2.0: Investing to create tomorrow’s economy

Significant investment in infrastructure will be needed to support the transition to a net-zero carbon economy, creating a compelling opportunity for local authority investors. As the world emerges from a year of disruption and change, thoughts have naturally turned to the kind of world we want in the future. With governments around the world strengthening their commitments to a net-zero carbon future, increasingly utilizing new tech infrastructure, there is a renewed focus on the sustainability of our businesses, communities and society as a whole.


Resilience and recovery of infrastructure returns: All segments of the infrastructure market are showing positive returns

The unlisted infrastructure asset class is finally showing signs of recovery from COVID-19 with a significant drop in the equity risk premium in second quarter 2021, ending six consecutive quarters of losses. Since the onset of COVID-19, this quarter marks the first in which all segments of the infrastructure market have shown a positive return, even as interest rates remain at the highest level seen in more than a year amid ongoing fears of rising inflation.


Why the infrastructure bill could bring electric vehicles up to speed: Electric vehicles are here, but where are the charging stations?

More electric vehicles are showing up on the roads every day, and more are coming. But while electric cars are becoming a common sight, charging stations are not in all places. The United States has long lagged behind other countries when it comes to electric vehicle charging stations. That could change with the Biden administration’s $2 trillion infrastructure plan, which calls for half a million EV charging stations by 2030. The plan also includes a $174 billion investment in electric vehicles, including charging stations.


5 questions for Richard Geddes on how to improve U.S. infrastructure policy

Pethokoukis: Is the goal of infrastructure maintenance to spend a certain amount of money now, or do we also need to make sure we keep spending money going into the future? This is underappreciated in the national debate. The United States has almost a trillion dollars of deferred infrastructure maintenance. That’s because the state and local governments that own the infrastructure focus more on the design and construction of new facilities rather than the maintenance of existing facilities. So, without a fundamental shift towards long-term operation and maintenance, we’re just going to get back to the same situation that we have today once new infusions of money are gone.


Global listed infrastructure: Essential news and notes

The GLIO Index of infrastructure companies was back on track in July, up 1.7 percent. Year-to-date the GLIO Index is up 8.2 percent. Electric (3.6 percent), Gas (1.8 percent) and Water (9.4 percent) utilities all finished the month well ahead. Communications infrastructure (2.7 percent), Renewables (2.5 percent) and Airports (2.3 percent) also finished July on positive ground. Transportation companies fell (–1.1 percent) on average, driven down by declines in railroads (–0.7 percent), toll-roads (–1.2 percent), passenger rail (–5.8 percent) and marine ports (–5.2 percent).


Potential problem analysis: A non-quantitative approach to risk management

We’ve been on a mission here at Institutional Real Estate, Inc. to help build on and enhance the body of knowledge surrounding risk and risk management within the realm of real asset–related investing. Much of our work on this topic, led by our director of research, Dr. Randall Zisler, has focused on the search for, and greater understanding of, more useful data and analytics. But not all approaches to risk management need be quantitative.

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