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From the Current Issue

Taking a page from REITs: The case for a standardized infrastructure investment vehicle

by Fraser Hughes and Andrew Kuske

From our perspective, infrastructure is an extensive, and often unfortunately underappreciated, broad asset class with considerable underlying debates along with opportunities. The underappreciation largely arises from the rather ubiquitous nature of the asset class. Such ubiquity results in many parts of the asset class being taken for granted and “just” being viewed as a “public good” in classic economic terms. With that background, we start with the conclusion of this article: In our view, there is a clear case for some form of standardized and likely simplified investment vehicle dedicated to infrastructure investments.

From the Current Issue

The slow-speed progress of U.S. high-speed rail projects

by Benjamin Cole

There are proliferating bullet trains speeding across Europe, Japan, China and South Korea. Even Indonesia has China-built high-speed rail. But there are no true bullet trains in the United States, which for passengers remains a vast land linked together primarily by highways and skyways. To be sure, there are a couple U.S. routes that approach the accepted definition of a bullet train, of rail service that whisks people along at more than 150 miles per hour. But by far the world’s fastest bullet trains are in China, led by the Shanghai Maglev at the apex of the rail world with a top operating speed of 460 kilometers per hour, or 290 mph.

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