Infrastructure Investor: The Decade

In the grand scheme of things, 10 years is not a huge amount of time. In the context of human evolution, in fact, it doesn’t even register on the radar. But go down to the micro level – say, the span of a human life – and a decade packs an incredible amount of change.

Infrastructure pioneers will be well aware of that. Infrastructure Investor has been covering the asset class from the very start and it’s been an incredible ride. To mark our 10th year, we’ve released a special anniversary issue titled The Decade, detailing the journey so far, and what to expect in the next decade and beyond.

Features

In the first part of our 10th anniversary special, industry thought leaders reflect on the changes that have taken place in infrastructure investment over the last 10 years

Stories of the Decade 2009: Chicago parking meters’ controversial decade 

The consortium is on track to recoup its $1.15bn investment by 2021 – just 12 years after being awarded a 75-year lease to operate the city’s on-street meters. But it still can’t shake the stigma of a bad PPP. 

Stories of the Decade 2010: Rise of the big PE houses 

Blackstone’s modest $200m first close in 2010 was vastly overshadowed by the $14bn it raised for its relaunched vehicle in 2019. Now KKR, Carlyle and Apollo are also eyeing the asset class hungrily. 

Stories of the Decade 2011: ‘Social dynamite’ 

The former Allianz Capital Partners CEO’s prediction of growing public opposition to private ownership of infrastructure was spot on, though he might have been surprised at the extent to which he’d be proved right. 

Stories of the Decade 2012: Leap of faith rewarded 

CalSTRS’ $500m commitment to IFM Investors was 2012’s largest allocation to an infra vehicle and offered a taste of the fundraising heights to come. 

Stories of the Decade 2013: The government gives and the government takes away 

The European renewables subsidy flip-flops earlier in the decade foreshadowed a market transition that is now playing out in full. 

Stories of the Decade 2014: An open-and-shut case 

Mexico’s 2014 energy reforms were historic, but the aftermath demonstrated the hand of politics in infrastructure. 

Stories of the Decade 2015: Strength in numbers? 

Having ‘emerged’ in 2015, infrastructure’s mid-market is now thriving. But this brings its own challenges. 

Stories of the Decade 2016: Politicians play the national-security card 

The Australian government’s decision to block two Chinese bids for Ausgrid drew a line in the sand for the land Down Under. 

Stories of the Decade 2017: The mega-funds arrive 

GIP closed the largest-ever unlisted infrastructure vehicle on $15.8bn, thus foreshadowing the following year’s record fundraising. 

Stories of the Decade 2018: The appeal of Asian renewables 

Following a growth spurt in 2016-17, there are signs the market might be overheating. But demand is expected to remain strong as countries address the challenges. 

Stories of the Decade 2019: ESG takes centre stage 

With ever-increasing scrutiny of corporate behaviour and calls for greater diversity, the industry is grappling with how to invest responsibly. 

In the second part of our 10th anniversary special report, industry thought leaders reflect on the current state of the market. Plus, we provide our first-ever ranking of the world’s top 30 infrastructure investors

Meet the 30 largest infrastructure investors

The institutions in our debut Global Investor 30 ranking have committed $321bn to the asset class.

The Global Investor 30 methodology

We carried out primary and secondary research on more than 100 institutions to produce a ranking based on the market value of investors’ private infrastructure investment portfolios.

For the final section of our 10th anniversary special report, we examine the issues that will shape the asset class over the coming decade

Predicting the next decade: Self-drive time 

How the advent of autonomous vehicles could revolutionise transport infrastructure.

Predicting the next decade: Supersize infra 

Buoyed by strong institutional appetite, the size of infrastructure funds has grown significantly over the past decade. We look at how big they might get. 

Predicting the next decade: A space odyssey 

From lithium-ion batteries to solar power stations in space, the race is on to find efficient storage space solutions for renewable energy.

Predicting the next decade: Data explosion 

We look at what a meteoric rise in data consumption will mean for towers, fibre and storage. 

Predicting the next decade: Making a mark 

Investing for impact has risen up the agenda for many institutions with a rapid growth in allocations over recent years.

Predicting the next decade: Virtual reality

The world is moving online and there is money to be made in technology – but is higher education up to speed? 

Predicting the next decade: In rude health 

Innovative care delivery models will create huge opportunities for investors in healthcare infrastructure over the coming years.

Predicting the next decade: The waste land 

The war against plastic is increasing the focus on recycling and waste treatment, and raising tempting possibilities for infrastructure portfolios. 

Predicting the next decade: Smooth departure 

The future of airports looks bright, automated and efficient. 

Predicting the next decade: Regime change 

Europe’s regulatory regimes are becoming more punitive and may have reached ‘an inflection point’.
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