For 2024, the valuation tools in infraMetrics have had a makeover and are now presented in line with standard valuation approaches to help infraMetrics users navigate this rich dataset.

Valuation inputs are available for the income method (Cost of capital, discount rates, risk premia, risk factor exposures and returns and cash flow growth and distributions) and the market method (EV/EBITDA, Equity Price to Sales, etc). Each metric is available by buckets of age, time to maturity, profitability, etc.

We have also added a Comps Builder, allowing users to customise comparable by sector, geography but also precise risk factor exposures such as your asset’s exact size or leverage. This produces a very granular comparable estimate, without compromising on robustness thanks to thousands of prices calculated each month in infraMetrics.

With these metrics, investors and valuers can built robust and granular estimates of the inputs they need to value private infrastructure equity and debt: infraMetrics gives them the systematic i.e., market-driven part of the valuation exercise. In particular, our models recalibrate the equity risk premia of infrastructure assets each month to capture the effect of new transactions on the market price of the risk (of future infrastructure dividends). From this solid starting point, infraMetrics users can then built the best estimate for their own assets, by adding asset-specific considerations to the final discount rate.

→ Check out a one-minute video here.

→ Contact us to know more or log into the infraMetrics platform.

The Q4 2023 release of infraMetrics includes the latest estimates of extreme climate risks faced by investors in infrastructure, computed with newly updated NGFS (4) and Oxford Economics scenarios.

The result allow infraMetrics users to get a detailed view of climate risks at the index or market segment level, including climate impact metrics such as financed emissions or carbon intensity, but also measures of extreme climate value, a unique metric only available via infraMetrics, providing a benchmark of the dollar value of the climate risks faced by investors in different infrastructure sectors and regions.

For example, if the planned energy transition required to keep global temperatures below two degrees was to be delayed, we compute extreme climate value or “late alignment risk” as the difference in NAV of all the assets in the index or segment between the so-called orderly and dis-orderly climate scenarios.

Toc compute these results, all assets tracked in infraMetrics are repriced in individual climate scenarios, with different cash flows and different discount rates depending on the scenario, and the different in NAV either between scenarios or within a scenario but with or without the asset level climate exposure taken into account, provide different estimates of extreme climate value.

→ Click here or on the image above to see some details

→ Contact us to know more or log into the infraMetrics platform.

Please note that with effect from June 30, 2023, the infra300 quarterly index will be permanently discontinued. The last infraMetrics data release for the quarterly infra300 index has been published on April 24^th 2023. There will be no subsequent publication for the second quarter.

The monthly infra300 index, which reflects the same methodology and published on a monthly basis, will continue to be produced and made available through the Market Indices application on the infraMetrics platform.

Similarly going forwards, all infraMetrics indices, are to be released on a monthly basis to improve the quality of the data available to investors and their ability to compare it with other asset classes on a like-for-like basis, including in terms of risk.

This move proceeds from an earlier announcement in Q3 2022 that EDHECinfra’s key indices have acquired Recognition by the European Securities and Markets Association (ESMA) as a third country benchmark administrator in accordance to Article 32 of Regulation (EU) 2016/1011.

Subsequently, following a series of consultations with the industry, EDHECinfra has come to the conclusion that this is an essential step, as we move to being recognized as the key provider of pricing data in the unlisted infrastructure universe, and ensures our clients of the robustness and high-calibre of our products.

If you have any questions or feedback, please contact Michelle Ho, Director of Investor Outreach.

EDHECinfra plans to merge its current Asset Valuation and Risk Metrics application into a new and singular app that will be released later in 2023 on its Inframetrics platform. All existing data and capabilities of both apps will continue to exist in the new App. For existing clients with access to both products, please be assured that there will be no material change to your subscription.

The Asset Valuation app provides mark-to-market valuation metrics available for key segments and strategies of the unlisted infrastructure universe including: Valuation ratios, market discount rates, DCF metrics, credit spread, cost of capital and cashflow metrics.

The Risk Metrics App delivers essential drivers and extreme risk metrics of the key segments of the infrastructure universe including risk factor exposures and premia, credit risk, macro factor exposures and more.

For questions or comments please contact Michelle.ho@scientificinfra.com by April 1, 2023.

Please be informed that with effect from January 31, 2023, we have added 33 new equity and debt quarterly indices in its TICCS research data, and new segments in the asset valuation and risk metrics applications. This reflects our commitment to provide up-to-date, cutting-edge data & technology, relevant, practical solutions that delivers superior value to its customers.
The new additions provide an enhanced representation of the market to our clients and include:

• 25 new unlisted infrastructure equity splits including global solar, more UK and Asian sectors, greenfield/brownfield, and many more.
• 8 new private debt splits including renewable power, emerging market debt, and more.

All existing subscribers to the relevant apps will be now able to access the full list of new additions below:

• Global 10+ years Infrastructure
• Spain Transport
• Advanced Economies Energy and Water Resources
• Europe Merchant Transport Infrastructure Debt
• Europe Transport corporate equity
• United Kingdom Transport
• Continental Europe Merchant Infrastructure Debt
• United Kingdom Merchant Infrastructure
• United Kingdom Corporate Debt
• Europe Merchant Infrastructure Corporates
• Asia-Pacific Power Generation x-Renewables
• Global Merchant Power Generation x-Renewables
• Asia-Pacific Transport
• Continental Europe Renewable Power
• Global Regulated Projects
• Global Wind Power Generation Infrastructure Debt
• Advanced Economies Wind Power Generation Infrastructure Debt
• Global Contracted Corporates
• Emerging Markets Contracted Projects
• Europe Merchant Infrastructure Project Debt
• Asia-Pacific Merchant Infrastructure
• Advanced Economies Renewable Power Contracted Infrastructure Debt
• Australia Transport unlisted infrastructure equity
• Continental Europe Transport Merchant Infrastructure
• United Kingdom Renewable Power
• Emerging Markets Contracted Infrastructure
• Emerging Markets private infrastructure debt
• Global Solar Power Generation
• Global 0-10 years Infrastructure
• Global 0-10 years Projects
• Europe Merchant Road
• Global 10+ years Projects
• Global Energy and Water Resources Infrastructure

For questions or comments please contact Michelle.ho@scientificinfra.com.

Please be informed that all of EDHECinfra’s research publications have now been made available on the Inframetrics platform under Research Data, from January 31, 2023.

All Inframetrics users will have full access to the historical Research papers produced by EDHECinfra and in conjunction with key industry stakeholders as well as any upcoming publications.

Clients subscribed to TICCS research data may also access its content via the Research Data tab.

For questions or comments please contact Michelle.ho@scientificinfra.com.

Please be advised that all access to EDHECinfra’s legacy platform (indices.edhecinfra.com/indices-legacy) will be permanently discontinued with effect from February 10, 2023.

All existing Inframetrics® users will continue to have full access to our products and data via indices.edhecinfra.com.

For any questions or feedback, please contact Michelle.ho@scienticinfra.com