Institutional Investing in Infrastructure
April 1, 2015: Vol. 8, Number 4Buy For $0.00 Add to Cart
Three is a crowd: The low hanging fruit in infrastructure secondary markets is being snapped up
Large institutional investors, sovereign wealth funds and pension funds are generally at the forefront of larger investment deals. A case in point is infrastructure projects needing direct investment with capital that can be deployed relatively quickly and for long investment horizons. However, there are other investors, not as large, with less capital and perhaps with fewer resources to source direct investment in infrastructure.
Sustainable infrastructure will have an impact sooner rather than later
While watching the NCAA basketball tournament this weekend, I saw a promotion for Denver International Airport (DIA). According to the spokesperson, DIA is one of the most environmentally sustainable airports in the world. It is the first international airport in the United States to have its Environmental Management System (EMS) certified to the ISO 14001 international standard. Looking up what this means, it turns out that this certification helps ensure that the airport’s EMS contains the most recent internationally accepted practices and procedures for identifying and managing environmental impacts.
A global perspective on emerging market infrastructure: An excerpt from Institutional Investment in Infrastructure in Emerging Markets and Developing Economies
The following article is the third of several excerpts that will appear in I3 from Institutional Investment in Infrastructure in Emerging Markets and Developing Economies, a report commissioned by the World Bank and the Public-Private Infrastructure Advisory reviewing the role of institutional investors in financing infrastructure in emerging markets and developing economies. The report with footnotes and references is available at www.georginderst.com, www.ppiaf.org or the SSRN.
Africa takes flight
Most people that make their living in the investment and finance world are familiar with the phrase “flight to safety.” It means that when markets are volatile and prices are plunging, investors look to “safe harbors” in the storm, often lower-risk, core investments, and the safest of all are generally U.S. Treasuries or cash. But have you ever heard the phrase “flight from safety”? Or, put another way, moving out the risk curve.
Fundraising round-up: closings and launches
The Carlyle Group has raised $2.5 billion for its first international energy fund, the largest first-time fund in the firm’s history. Carlyle International Energy Partners began raising capital in mid-2013 and has attracted 160 investors. Carlyle now has more than $10 billion of capital ready to deploy across its global energy platform.
Ratings round-up: North American airports, project finance default rates
The following report is a review of first quarter 2015 research notes by Moody’s Investors Service.