Institutional Investing in Infrastructure
July 2011: Vol. 4, Number 7
Summer Reading List: Recent Reports Outline Key Trends and Themes Driving Today
A slew of new reports and papers that cover trends in infrastructure investing have been published recently. They provide a quick overview of the market as well as details of significant changes following the global financial crisis. The following article is a summary of these reports, organized in three sections: 1) an overview of infrastructure; 2) institutional investors and infrastructure; and 3) other reports of note.
The Art of Asset Management: After the Deal Closes, the Hard Work Begins
Traditionally, infrastructure investing has been about tapping into the cash flows of assets that keep economies running — power plants, roads, bridges, ports and water facilities — and it is the operations of those assets that can make or break investor expectations. Now that the go-go days of the past few years are gone, a new emphasis on the nuts and bolts of asset management has returned to the forefront of investors’ minds. What should investors look for when deciding who is best suited to manage an infrastructure investment?
The Appeal of Listed Infrastructure: A Case Revisited
In the newly released RREEF white paper titled, A Compelling Investment Opportunity: The Case for Global Listed Infrastructure Revisited, we provide an overview of this relatively new investment sector and an analysis of its performance characteristics, its role in a multi-asset portfolio, its role relative to a broad infrastructure allocation, and the mega-trends and structural drivers shaping the sector.
A Conversation with Tom Morsch
Institutional Investing in Infrastructureassistant editor Tyson Freeman spoke with Morsch about the P3 market.
KKR and MEAG Buy Stake in European Solar Firm
Private equity firm Kohlberg Kravis Roberts (KKR) and MEAG, an asset management unit of the German insurance group Munich Re, have acquired a 49 percent stake in the assets operated by Grupo T-Solar, a Madrid-based solar photovoltaic power company.
LISEA Closes on French High-Speed Rail Concession
Meridiam Infrastructure has announced that it is part of a consortium that recently closed a €773 million ($1.11 billion) concession deal on the Sud-Europe Atlantique High-Speed Railway Line (SEA High-Speed Line) in France.
Macquarie Partnership Inks P3 Deal with Virginia DOT
The Virginia Department of Transportation (VDOT) reported that it has reached agreement on major business terms with a private entity, Elizabeth River Crossings LLC, for the design, construction, financing, operations and maintenance of the Midtown Tunnel Project in Virginia.
New GDF Suez Consortium Makes First Investment
A public consortium comprising CNP Assurances, CDC Infrastructure and France-based Caisse des Dépôts et Consignations has finalized the creation of GDF Suez, a long-term cooperative venture in the natural gas transportation industry in France and Europe.
- New Mexico Education Hires Caledon
OTPP Increases Stakes in Chilean Water Utilities
The C$107.5 billion ($112.5 billion) Ontario Teachers’ Pension Plan (OTPP) has increased its stakes in two Chilean water utilities, Essbio S.A. and Esval S.A., after making successful bids in recent government-held auctions.