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Insights

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

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Part 3: A factor revolution in unlisted infra

A version of this blog was originally published on top1000funds.com. This blog marks our third and final article on the EDHECinfra/G20 survey of infrastructure benchmarking practices. This time, we take a look at the role of infrastructure investment benchmarks for the purpose of risk management. More than 300 respondents took part in the survey. They included representatives of 130 asset

Featured image for “Part 1: infra risks misunderstood”

Part 1: infra risks misunderstood

The 2019 EDHECinfra/G20 survey of infrastructure investors is a detailed study of benchmarking practices amongst asset owners and managers and brought to light a significant issue with regard to the investment process in infrastructure: investors do know how much risk they are taking and they are not happy about it.

Featured image for “An uncomfortable truth: infrastructure investors do not know their risks”

An uncomfortable truth: infrastructure investors do not know their risks

We carried out the largest survey of infrastructure investors ever made. Here’s what we found: The largest survey of infrastructure investors ever undertaken shows that most investors cannot benchmark the risks they find themselves exposed to when investing in unlisted infrastructure. EDHECinfra releases a new survey sponsored by the Global Infrastructure Hub (GIH, a G20 Initiative). More than 300 respondents

Featured image for “New research shows that infrastructure credit spreads are fair”

New research shows that infrastructure credit spreads are fair

A new paper drawn from the Natixis/EDHECinfra research chair sheds new light on the drivers of returns in private infrastructure debt. Infrastructure credit spreads remain twice as high today as in 2008, but this new research shows that only 30bps of this increase cannot be explained by changes in systematic risk factor prices.

Featured image for “The Pricing of Private Infrastructure Debt: A Dynamic Approach and Comparison with Corporate Debt”

The Pricing of Private Infrastructure Debt: A Dynamic Approach and Comparison with Corporate Debt

This paper examines the drivers and evolution of credit spreads in private infrastructure debt. We ask two main questions: Which factors explain private infrastructure credit spreads (and discount rates) and how do they evolve over time? Are infrastructure project finance spreads and infrastructure corporate spreads driven by common factors?

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No financial pain or gain for ESG management and reporting

New EDHECinfra research finds there is no financial penalty or gain (based on Return on Assets) for infrastructure firms to implement ESG management and reporting.A new paper drawn from the EDHECinfra/LTIIA Research Chair shows that Environmental, Social and Governance (ESG) scores are not negatively or positively correlated with the financial performance of unlisted infrastructure firms.