The EDHEC/LTIIA Research Chair on Unlisted Infrastructure Equity Benchmarking
In 2016, the Long-Term Infrastructure Investor Association endowed a three-year Research Chair at EDHEC to develop new research on several issues central to the development of the infrastructure asset class: performance benchmarking and the relationship with environmental, social and governance (ESG) aspects of infrastructure companies.
The chair produced three important research papers:
- The first-ever risk-adjusted performance benchmarking of unlisted infrastructure equity investments in Europe going back 15 years;
- The first-ever factor model of unlisted infrastructure equity prices using global transaction data going back 20 years;
- The first-ever analysis of the relationship between financial performance and ESG reporting scores (using ESG data contributed by GRESB).
The research of the Chair was also presented at an annual "Masterclass" event held during LTIIA's annual meeting.
Founded in 2014, LTIIA gathers investors that collectively manage in excess of 12 trillion dollars of assets and that include some of the most active investors globally in the field of long term investment in infrastructure.
The Association’s three key priorities at the core of its action:
- proactive engagement with public stakeholders to support attractive investment frameworks,
- development of financial performance benchmarks to promote infrastructure as an asset class, and
- definition and sharing of best practices in relation to Environmental, Social and Governance issues.
See www.ltiia.org for more information.
ESG Reporting and Financial Performance: the Case of Infrastructure
2019
EDHEC Infrastructure Institute Publication
Which Factors Explain Unlisted Infrastructure Asset Prices?
2019
EDHEC Infrastructure Institute Publication
