Buy Well

Buying well is the most critical part of the infrastructure investing equation. It’s very difficult to recover from a bad investment decision. As a fundamental starting point, when considering investment opportunities, we look for a series of distinct characteristics, which include:  

• Strong market positions with high barriers to entry. We typically invest in assets that sit within the top five market positions in the relevant jurisdiction.

• Long-term concessions or leases of 25 years, up to 99 years.

• Relatively stable and predictable contracted or regulated revenues providing downside protection against, for example, inflation.  

• Inelastic demand for the asset’s services, giving pricing power.

• Governance rights, i.e. board representation, that will help us drive value-add initiatives through our long-term active management approach. 

• Opportunities to continue re-investing in an asset over the long term, to drive returns over multiple cycles. 

We aim to leverage our extensive portfolio footprint and global presence to identify investment opportunities offering relative value. The natural advantage that deal flow via our relationships often creates for us is less competitive acquisition processes.