In an open letter addressed to Chief Executive Officer of Ofwat, the UK water regulator, the EDHEC Infrastructure & Private Assets Research Institute has expressed deep concern about the regulator’s role in the mispricing of Thames Water’s cost of capital. The letter, penned by Professor Noël Amenc, Dr Frederic Blanc-Brude and Dr Tim Whittaker, highlights the impact of mispricing on both … Read More

As part of the government’s policy to promote economic growth, the UK Department for Work and Pensions (DWP) wants to build an evidence base around how defined benefit (DB) pension schemes could increase the amount invested in productive asset classes including infrastructure. In its response to DWP, EDHEC Infra & Private Assets underlines the advantages of infrastructure for long-term investors, particularly … Read More

In recent years, the European Insurance and Occupational Pensions Authority has made considerable efforts to improve the integration of climate risk into the assessment of the solvency of pensions and insurance institutions, notably with the first stress tests on the occupational pensions sector conducted in 2022 and the publication of the application guidance on how to reflect climate risk in … Read More

This paper, based on detailed financial data as well as in-depth interviews, provides a detailed analysis of the events that led to the bankruptcy of all but one of the nine toll road concessions and shows how case studies can be a valuable tool for understanding risk for investors.