Monthly equity and debt indices for investors in private infrastructure
infraMetrics equity indices are regulated by ESMA and include the widely used infra300® and infra100® index families, as well as several other thematic and geographic indices:
- infra300: a representative set of infrastructure 300 equity investments in two dozen countries, going back 20 years. the most representative and widely used unlisted infrastructure equity index in the world. The infraDebt300 index tracks the performance of the 300+ debt instruments of the same universe and is also computed monthly and reviewed annually.
- infra100: a larger family of thematic indices capturing the performance of the hundreds largest investments in a given segment. Likewise, infraDebt100 indices track the performance of the 100 largest borrowers in 25 markets. The infra100 family includes the infra100 Core and infra100 Core+ indices, infra100 Project Finance, infra100 Eurozone, etc.
- infraGreen: the infraGreen index family covers both equity and debt investments in solar and wind projects worldwide and provides an unique view the performance of the renewable energy sector. the infraGreen equity index tracks 100 investment and goes back 10 years.
- Other thematic and geographic indices include the InfraAmericas, InfraAsiaPac and infraNorthenEurope equity indices, the infraLongTerm Debt index.
Index data includes index values and returns, constituents, TICCS® allocations, performance and analytics and is available monthly for all indices.
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Use Investor Peer Group benchmarks for a better understanding of infrastructure investments styles and strategies
Comparable performance of key peer groups of investors active in the unlisted infrastructure equity space. Using pooled portfolio of actual holdings by investors, compare the strategies, risk and performance of pension plans, insurers, asset managers etc.
infraMetrics includes sixteen infrastructure investors peer group benchmarks built from the portfolio allocations revised annually (available for vintages since 2021) of 350+ infrastructure equity holders and documented their TICCS exposures or tilts.
Peer groups are also ranked by risk-adjusted returns, highlighting the most successful strategies and styles.
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The only robust fund quartile benchmarks
The infraMetrics infrastructure equity fund benchmarks provide essential data for LPs who need to evaluate funds and managers and for managers who want to showcase their performance against a representative set of IRR or TVPI data.
Using the same asset prices computed to produce the infraMetrics market indices, the fund benchmarks provide metrics that would be reported if thousands of funds existed in the market and faithfully reported their performance data in each segment and each vintage, every quarter.
Users can easily visualise the range of realised and expected returns for a well-defined universe of funds, select fees, horizons etc. The data is updated quarterly and includes multiple fee scenarios with different levels of management fees, carry and hurdle rate and more than 100 strategies including Global Core or Core+, Europe Contract Project, etc.
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Essential valuation and "Comps" metrics to better invest in infrastructure
infraMetrics provides its users with quarterly-updated market valuation metrics for hundreds of segments and strategies of the unlisted infrastructure universe, including:
- Valuation ratios: EV/Ebitda, Price/Sales, etc
- Climate Risk Metrics: tCO2/$ Revenue, Physical VaR, etc.
- Discount rates: Market calibrated expected returns, risk premia and risk free rates
- Cost of capital: WACC, Cost of Equity and Cost of Debt
- DCF metrics: impact of changes in future dividends, premia and rates on asset NAVs
- Credit spreads and yields: IG, floating and fixed rate senior debt
- Cash flow metrics: Revenue growth, dividend payouts, etc.
Analytics also include fundamental risk drivers and extreme risk metrics of the key segments of the infrastructure universe, risk factor exposures and premia, credit risk, macro factor exposures and more.
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Granular climate risk benchmarks for transition and physical risk
infraMetrics now includes a range of climate risk metrics at the index, segment and asset level create benchmarks and "comps"off the climate exposure and risks of infrastructure companies in each sector and for each type of risk. This includes
- Carbon intensity by $ of revenue or $ invested
- Physical Value at Risk estimated at the asset level using granular hard models and damage functions
- Extreme Financial Loss values based in NGFS scenarios
All values are estimated using reported data as inputs for scopes 1 and 2 and realized usage (traffic, production etc) for scope 3, using sector and technology specific models.
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