EDHECinfra Announcement
EDHEC/LTIIA Research Chair 2016-2019
Publication date: 2016-03-26

EDHEC Infrastructure Institute has entered into a partnership with French bank Natixis for a second research chair on “Private Infrastructure Equity Benchmarks.” The research chair will run from 2016-2019.

This project follows the completion of the EDHEC/Meridiam/Campbell-Lutyens Research Chair (2013-2016). The Long-Term Infrastructure Investor Association, which was created by the original sponsors of the Chair, brings its support to the creation and population of a global infrastructure equity cash flow database.

This database is being built by the EDHECinfra from investor contributions and primary documentation (financial statements, project documentation etc), will cover thousands of investments globally, and will allow the production of infrastructure equity benchmarks.

Over the 2016-18 period, the Chair aims to produce three types of empirical benchmarking analyses of infrastructure equity investments:
• Infrastructure equity benchmarks in an asset allocation context (risk/return);
• Infrastructure equity in a liability-driven investment context;
• Infrastructure equity returns and the ESG characteristics of infrastructure projects.

The Research Chair was officially launched at the EDHECinfra Forum in London on March 16th, 2016.
Two LTIIA members, Campbell-Lutyens and the Club of Long-Term Investors provide additional support to this project.

The first EDHEC/MERIDIAM/Campbell Lutyens Research Chair 2012-2015 made a number of valuable contributions to infrastructure equity investment. The work of the Chair has also been instrumental in informing and educating investors about infrastructure project debt and its characteristics.
Regular and important contributions to the prudential regulatory debate, especially the adaptation of the Solvency-II framework to work towards a clearer definition of infrastructure investment and dedicated prudential treatment for infrastructure.

The Chair has also been involved in the policy-setting process in various fora, including at the G20 level and in regional fora such as the OECD, the EU and APEC. The Chair contributed directly to the definition of a data collection standard for asset pricing and the calibration of risk models, which is currently being discussed as an output of the G20 Investment and Infrastructure Working Group (IIWG) in 2015.

Finally, the Chair’s work led to significant applied research outputs:

• the development of a dedicated asset pricing technology for privately-held infrastructure equity investments;
• the definition of a parsimonious data collection and reporting template;
• the calibration of models of default frequency and correlation using new data collected by EDHEC and providing of the sole sources of empirical knowledge on these issues.
Founded in 2014 by investors and for investors, Long Term Infrastructure Investors Association works with a wide range of stakeholders, including infrastructure investors, policy-makers and academia, on supporting long-term, responsible deployment of private capital to public infrastructure around the world.

In 2009 Caisse des Dépots, Cassa Depositi e Prestiti, the European Investment Bank and Kreditanstalt für Wiederaufbau created the Long-Term Investors Club (LTIC). Today the Long-Term Investors Club gathers 18 major financial institutions and institutional investors mainly from G20 countries, representing a combined balance sheet total of USD 5.4 trillion.

EDHEC/LTIIA Research Chair 2016-2019

DISCLAIMER

  • The information contained on the EDHECinfra website (the “information”) has been prepared by EDHECinfra solely for informational purposes, is not a recommendation to participate in any particular investment strategy and should not be considered as an investment advice or an offer to sell or buy certain securities.

    All information provided by EDHECinfra is impersonal and not tailored to the needs of any person, entity or group of persons. The information shall not be used for any unlawful or unauthorised purposes. The information is provided on an “as is” basis.

    Although EDHECinfra shall obtain information from sources which EDHECinfra considers to be reliable, neither EDHECinfra nor its information providers involved in, or related to, compiling, computing or creating the information (collectively, the “EDHECinfra Parties”) guarantees the accuracy and/or the completeness of any of this information.

    None of the EDHECinfra Parties makes any representation or warranty, express or implied, as to the results to be obtained by any person or entity from any use of this information, and the user of this information assumes the entire risk of any use made of this information. None of the EDHECinfra Parties makes any express or implied warranties, and the EDHECinfra Parties hereby expressly disclaim all implied warranties (including, without limitation, any implied warranties of accuracy, completeness, timeliness, sequence, currentness, merchantability, quality or fitness for a particular purpose) with respect to any of this information.

    Without limiting any of the foregoing, in no event shall any of the EDHECinfra Parties have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits), even if notified of the possibility of such damages.

    All EDHECinfra Indices and data are the exclusive property of EDHECinfra. Information containing any historical information, data or analysis should not be taken as an indication or guarantee of any future performance, analysis, forecast or prediction. Past performance does not guarantee future results. In many cases, hypothetical, back-tested results were achieved by means of the retroactive application of a simulation model and, as such, the corresponding results have inherent limitations.

    The Index returns shown do not represent the results of actual trading of investable assets/securities. EDHECinfra maintains the Index and calculates the Index levels and performance shown or discussed, but does not manage actual assets. Index returns do not reflect payment of any sales charges or fees an investor may pay to purchase the securities underlying the Index or investment funds that are intended to track the performance of the Index. The imposition of these fees and charges would cause actual and back-tested performance of the securities/fund to be lower than the Index performance shown. Back-tested performance may not reflect the impact that any material market or economic factors might have had on the advisor’s management of actual client assets.

    The information may be used to create works such as charts and reports. Limited extracts of information and/or data derived from the information may be distributed or redistributed provided this is done infrequently in a non-systematic manner. The information may be used within the framework of investment activities provided that it is not done in connection with the marketing or promotion of any financial instrument or investment product that makes any explicit reference to the trademarks licensed to EDHECinfra (EDHECinfra, Scientific Infra and any other trademarks licensed to EDHEC Group) and that is based on, or seeks to match, the performance of the whole, or any part, of a EDHECinfra index. Such use requires that the Subscriber first enters into a separate license agreement with EDHECinfra. The Information may not be used to verify or correct other data or information from other sources.

    The terms contained in this Disclaimer are in addition to the Terms of Service for users without a subscription applicable to the EDHECinfra website, which are incorporated herein by reference.

    This site uses cookies to deliver the services you request, improve user experience and measure audience. By continuing to browse our website, you are consenting to our use of cookies. Find out more about this in our Privacy policy.

  • X
    X