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Insights

Opinion pieces from the team, and uses cases covering private markets, infrastructure investment, climate change, social risk, and more.

Featured image for “Q2 2020 Index Release: More negative returns for unlisted infrastructure investments but Contracted assets show resilience to Covid-19”

Q2 2020 Index Release: More negative returns for unlisted infrastructure investments but Contracted assets show resilience to Covid-19

The Q2 2020 release of the EDHECinfra indices marks a new quarter of negative returns for the unlisted infrastructure asset class. The infra300 index is down -1.5% on the quarter ending 30 June 2020. This index measures the average mark-to-market performance of 300 unlisted infrastructure equity investments that make a representative sample by sector, corporate structure, and business model of

Featured image for “Report: Impact of Covid-19 on Infrastructure Companies Forecast Revenues in Q2 2020”

Report: Impact of Covid-19 on Infrastructure Companies Forecast Revenues in Q2 2020

By Jack Lee and the data team. Overview IC10 Power Generation x-Renewables IC40 Energy and Water Resources IC60 Transport 4.1 IC6010 Airport Companies 4.2 IC6030 Port Companies 4.3 IC6040/60 Rail and Urban Commuter Companies 4.4 IC6050 Road Companies IC70 Renewable Power IC80 Network Utilities 6.1 IC8010/20 Electricity Distribution/Transmission Companies 6.2 IC8040 Water and Sewerage Companies Dividend Outlook for Covid-19 Impacted

Featured image for “Infrastructure investors should abandon absolute return benchmarks: Lessons from the Covid-19 lockdowns”

Infrastructure investors should abandon absolute return benchmarks: Lessons from the Covid-19 lockdowns

This paper argues that there is no reason for investors in unlisted infrastructure to continue using absolute return or ‘cash +’ benchmarks. It calls for investors to abandon them and adopt market-relative benchmarks based on fair value and representative data.

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Infra unknowns – key questions that need to be answered

As someone who straddles both the academic and finance worlds I’m always interested in research that can help better inform asset managers. My main interest is in infrastructure finance, having been involved in the field in some way or another over the last 15 years. So, I’m always interested in reading new research on infrastructure finance, hoping it might provide

Featured image for “Report: Q1 2020 estimates of Covid-19 impact in infrastructure companies future revenues”

Report: Q1 2020 estimates of Covid-19 impact in infrastructure companies future revenues

By Jack Lee – Deputy Head of Data In response to the coronavirus Covid-19, many governments have put their nations into “lockdown” measures and/or strict movement controls. These inevitably have a knock-on effect on various infrastructure business models and their relevant investments. The business models most impacted include merchant and regulated arrangements, as per the TICCS® Business-Risk Classification, where revenues

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2019Q4 Index Release (Erratum)

In the 2019Q4 Index Release made on January 16, 2020, it was mentioned that South East Water suffered a negative return in the 4th quarter of 2019 due to a “revision of its financial forecast.” This statement was not accurate on two counts: The forecast in question is produced by EDHECinfra’s cash flow models and analyses but was not produced or