in the news
EDHECinfra research is regularly featured in the mainstrean and professional press
Benchmarking is important because it’s the only way to understand infrastructure investment on a multi-asset class basis, says Frederic Blanc-Brude, chief executive officer at Scientific Infra and director of the… “The infrastructure sectors and their related risks is a much more challenging task, according to Frédéric Blanc-Brude, director of the infrastructure institute at business school EDHEC,” writes Silvia Pavloni for… i3 senior editor Drew Campbell recently spoke with Frederic Blanc-Brude, director of EDHEC Infrastructure Institute, about the state of benchmarks in infrastructure investing. Here are excerpts from their conversation. Pour Anne-Christine Champion (membre du Advisory Board EDHECinfra), responsable monde actifs réels chez Natixis, le secteur des infrastructures est un acteur indispensable dans l’accompagnement des mutations technologiques de notre économie…. Richard Lowe looks at the evidence available on the pricing of infrastructure assets. “Another interesting contention is that infrastructure was previously cheap and is now more fairly priced. EDHECinfra has… Tim Büttner of Portfolio Institutionell takes a look at EDHECinfra’s research on listed infrastructure: „Diese sind jedoch recht rar und zudem in Zahl und Volumen rückläufig, da diese von der… Christopher O’Dea explores the role of size and the lack of liquidity in infrastructure investing, drawing from EDHECinfra results. Richard Lowe reviews the state of the market and uses insights from EDHECinfra research. At the annual EDHECinfra Days Conference in London, Frédéric Blanc-Brude, director of EDHECinfra, suggested that rolling stock should be excluded from benchmarking classifications along with aircraft and ships, on the… EDHECinfra’s data collection and standardisation work was mentioned in John Dizard’s column: “The real threat to margins in the infra fund industry is transparency and liquidity. For example, Edhec’s Infrastructure… How many assets does an infrastructure portfolio need to be sufficiently diversified? Most institutional investors would say between 20 and 50, according to a recent survey by EDHECinfra and the… Doug Appel discusses the evolution of the definition of infrastructure investment in the context of EDHECinfra’s broad market indices. Infrastructure investing is “an evolution, not a revolution” for the West Sacramento-based California State Teachers’ Retirement System, said Paul Shantic, director of inflation sensitive portfolios at the $233 billion pension plan…. EDHEC Infrastructure Institute on June 7 launched global benchmark indexes for unlisted infrastructure equity and debt that market veterans say could pave the way for more efficient allocations to the… Big debate Does ESG enhance performance? Partners Group’s Esther Peiner and EDHECinfra’s Frédéric Blanc-Brude tell us what they think. You can read the article here. Susanna Rust reviews investors ESG focus and draws conclusions from our 2019 global infrastructure survey. Sarah Zheng discusses some of the findings of our 2019 global survey. “Around 54 per cent of the respondents said rising interest rates in the United States and the trend… Our recent paper on the factors that drive unlisted infrastructure equity valuations and recent market trends was highlighted in French Business Newspaper Les Echos, ahead of its key note presentation by Frederic Blanc-Brude at the Infrastructure Investor Global Summit in Berlin. The first ever study on ESG reporting and financial returns by Tim Whittaker and Silvia Garcia was highlighted by the Financial Times. “This paper challenges the oft-reported notion that better ESG ratings should somehow systematically increase or decrease returns,” said Tim Whittaker, research director at EDHECinfra.” One of the striking findings of the 2019 global survey was the rank of the UK in investors’ perceptions for the next 5 years. Infrastructure embodies long-term value, beyond the… Infrastructure is a new asset class; numerous deals had to happen before buyers and sellers discovered a ‘fair price’.” “It is also important to note that valuations did not just… The bigger issue standing in the way of higher US infrastructure investment is the lack of homogeneity in financing and procurement across states. The US cannot be thought of as a… Without a proper taxonomy providing a set of criteria to define infrastructure it is hard for asset managers to structure the solutions investors need. The EDHEC Infrastructure Institute, as part of… EDHECinfra has now built the largest database of infrastructure investment data in the world. The data has been used to create performance benchmarks that are needed for asset allocation, prudential… “EDHECinfra was created to address the knowledge gap faced by infrastructure investors. Investors need proper performance benchmarks for private infrastructure that allow them to understand infrastructure performance in a multi-asset… EDHEC has been gathering data from asset owners to produce indices that address the specific needs of the infrastructure asset class. It has sought to address two major issues: one,… According to the Annual Global Infrastructure Investor Survey 2017 by the Global Infrastructure Hub and EDHEC Infrastructure Institute-Singapore, 37 per cent of infrastructure investors invest in emerging markets, up from 20 per… EDHECinfra Days conference is highlighted as a must attend event as speakers discuss the number of inadequacies with the current approach to infrastructure fund management, including those relating to costs,… Others, looking at asset owners shouldering the design and development of city train networks, see mostly outsized risks. “It’s the most concentrated bet they can possibly make,” … It’s like… “The unlisted infrastructure sector is evolving rapidly to become more transparent and better benchmarked, so that large institutional investors such as GPFG will now be able to approach it on… “Without adequate performance benchmarks infrastructure investors have found it challenging to make investments in infrastructure” “Using unique asset pricing technology, we are able to compute the metrics that investors and… Jennifer Thompson asks why it is so hard to invest in US infra. “There is a definite demand for infrastructure from US investors, but the majority of this capital is… “Although infrastructure is illiquid, our research shows that if you can measure the risk-adjusted performance effectively, investment becomes much less challenging. “You do see negative returns on some assets. But… “Infrastructure investors today use ad hoc benchmarks for unlisted infrastructure investment. EDHECinfra wishes to establish an industry standard for the infrastructure asset class – and we’ve made progress.” EDHECinfra’s Sarah… “Three-quarters of industry representatives said they would use an infrastructure investment benchmark to understand how assets are performing, according to an Edhec Business School study, which surveyed 200 infrastructure investors.”… “A majority of infrastructure investors agree that standardised performance data is needed to better judge returns, according to research from EDHECinfra, but they differ on how that information should be… “Traditional geographic and sectoral categories used for capital markets benchmarks have been widely rejected by institutional infrastructure investors, according to a survey by EDHEC Infrastructure Institute.” EDHECinfra’s research paper “Selecting… As infrastructure investment grows, the boundaries are being stretched by some asset managers investing in real estate-type assets with infrastructure value-add labels slapped on top. Investors are often confused as… “The Argentinian presidency of the G20 opens this month and will be marked by a focus on infrastructure investment. The G20 and OECD have already announced a wide scale data… “The traditional asset managers are now having to operate in what they call the value-add space, where the asset might be brownfield but it has a greenfield element. This influx… “Listed infrastructure, in its current form, cannot be called an asset class. Asset managers offering so called ‘infrastructure funds’ are misleading investors. It has been argued that the wrapper does… EDHECinfra’s Frédéric Blanc-Brude went head-to-head with David Bentley, of GIP-backed ATLAS Infrastructure, in an Oxford-style debate at the Infrastructure Investor HK summit. Read the full article here. “Some investors are happy to see infrastructure as a lower return/lower risk asset because they have a different balance sheet. That is, they are interested in long term value and… The latest Investor Perceptions of Infrastructure 2017 survey finds that investors do not require a greater risk premium to invest in greenfield projects compared to brownfield ones. EDHECinfra’s research paper… Sophie Baker reported some of the findings of our 2017 global survey. “Institutional investors want to increase their allocations to infrastructure over the medium term, with an emphasis on emerging… “A new global survey of major international institutional investors has found strong investor demand for infrastructure, including record levels of interest in emerging market infrastructure with 37.5 per cent of… Frédéric Blanc-Brude doubles down on why he thinks listed infrastructure – in its current form should not be called a new asset class in Infrastructure Investor. Read the full article… Sophie Roland highlights the challenges faced by infrastructure investors in terms of diversification using some insights from EDHEC research (in French). Seul problème : pour bénéficier de tous ces bienfaits, un… “Support for infrastructure investment, the idea that asset owners should commit to long-term capital projects through a mix of debt and equity, is a powerful notion at the heart of… “Singapore-based EDHEC Infrastructure Institute has called on the US Securities and Exchange Commission and the European Securities and Markets Authority to issue special regulations on the listed infrastructure market.” Read… “Some active managers now they can deliver the infrastructure story, and because infrastructure is fashionable it sells. But all they really offer is old-fashioned stock picking, except now they are… “This report discusses two topics: first, what we see as a major achievement for the infrastructure market with the June publication by EDHECinfra research institute of its first set of… Alternative asset classes all started off as exotic, undocumented propositions. Hedge funds, venture capital, commodities, even private real estate once were considered opaque forms of investments that only sophisticated asset… Frederic Blanc-Brude writes for Inframation post and explains how the EDHEC Infrastructure Institute’s new infrastructure benchmarks measure performance, asset pricing, and are able to show the benefits of diversification for… EDHECinfra’s research paper “Searching for a listed infrastructure asset class” is the topic of debate in an Infrastructure Investor roundtable. Read the full article here. Douglas Appell looks at the attractiveness of one-belt-one-road infrastructure projects for international investors. “It becomes a question of how feasible it is to have these private infrastructure projects in places… “For the past 15 years infrastructure investment has been the preserve of large sophisticated investors. It is rapidly becoming more mainstream, and asset owners of all sizes are considering investing… This story was originally published by top1000funds.com “EDHEC Infrastructure Institute is releasing 384 indices covering private infrastructure equity and debt investments. We hope these results will help dissipate the confusion… EDHECinfra plans to launch new indices that will enable life insurance companies to further increase their exposure to Asian infrastructure, director Frederic Blanc-Brude told InfraAsia. Read the full article here…. “Our benchmarks will change the way investors approach and manage their infrastructure investments,” said Frédéric Blanc-Brude, director of the Singaporean institute. “Key asset allocation,.prudential regulation or performance attribution questions can… EDHEC Infrastructure Institute Singapore (EDHECinfra) is releasing 384 infrastructure debt and equity indices. The indices are designed to change how investors measure infrastructure investment performance and allow multitrillion dollar increases… “Listed infrastructure tends to be very high volatility, very highly correlated with the market; not at all what you think infrastructure should be like as an investment.” EDHECinfra director, Frederic… Rachel Fixsen discusses NBIM’s decision not invest in infrastructure. “Frédéric Blanc-Brude, director of EDHEC Infrastructure Institute, says the decision not to expand in unlisted infrastructure must be seen in tandem… Douglas Appell looks at the development of funds that give investors access to greenfield infrastructure. “In a recent interview, Frederic Blanc-Brude, director of the infrastructure research institute launched in Singapore… Douglas Appell examines how investors end up investing in infrastructure and asks if things could improve. “Frederic Blanc-Brude, Singapore-based director of the EDHEC Infrastructure Institute, said a recent EDHEC survey… Partly funded with a grant by the Monetary Authority of Singapore, the research by EDHEC Infrastructure Institute-Singapore (EDHECinfra) aims to create debt and equity investment benchmarks to help asset owners… Frédéric Blanc-Brude and Majid Hasan present a rigorous – yet implementable – framework for measuring the performance of private infrastructure debt Estimating the performance of infrastructure debt instruments has become…
CIR: The challenges of benchmarking infrastructure in a pension portfolio
The Banker: Assessing sustainable infrastructure: the bigger picture
Institutional Investing in Infrastructure: A conversation with Frederic Blanc-Brude
Les Echos: La « smart infrastructure », clé de notre mutation économique
IP&E: Is infrastructure too expensive? In a word, no
Portfolio Institutionell: Eine Infrastruktur aus Aktien
IP&E Real Assets: Why big is often best
IP&E Real Assets: Is infrastructure on the right track?
IP&E Real Assets: As OTPP invests in SpaceX, should infra investors look beyond ‘grounded’ assets?
FTfm: Infra funds can no longer play the arbitrage game
IP&E Real Assets: Is rolling stock infrastructure?
P&I: As infrastructure matures, fuss on style drift grows
P&I: Infrastructure investing ‘evolution not revolution’ for CalSTRS, official says
Pensions & Investments: Indexes put bright light on unlisted assets
Infrastructure Investor: The big debate – Does ESG enhance performance?
IP&E: Chart of the Week: Alternatives investors bullish on UN SDGs
SCMP: Rising rate risks erode global interest in emerging markets’ infrastructure
Les Echos: Infrastructures – Why managers need not fear a bubble
FT: ESG has no financial benefit for infrastructure groups, study finds
IP&E Real Assets: Despite Brexit, infrastructure investors still believe in the UK economy
Infrastructure Investor: ‘Double-digit returns are behind us’
IP&E Real Assets: Can America build bridges (and roads)?
Infrastructure Investor: Why clearly defining infrastructure is critical
Building benchmarks for infrastructure investors
Alt Assets: Better benchmarks to boost infrastructure investment in untapped markets
IPE Real Assets: Building an asset class from the ground up
Financial Post: US$1 Trillion Infrastructure Investment Opportunity in 10 Compact with Africa Countries
IPE Real Assets: Infrastructure managers told to ‘raise game’ or miss out on DC pensions
Pensions and Investments: New Zealand Super bids to build Auckland light rail network
Globe News Wire: EDHECinfra urges Norwegian government to reconsider exclusion of unlisted infrastructure from GPFG mandate
Success benchmarked: Initial forays into infrastructure investment benchmarks are producing results
FTfm: US fails to rake in infrastructure cash
The Times: The Future of Infrastructure
Top 1000 Funds: Towards an infrastructure asset class
The Financial Times: Infrastructure investors seek better performance data
Infrastructure Investor: ‘Wanted’: better performance data
IPE Real Assets: Infrastructure investors reject traditional sector segmentation
IPE Real Assets: Infrastructure: Calling time on borrowed definitions
ETF Stream: Are infrastructure funds all that they seem?
Asian Venture Capital Journal: Asian LPs and infrastructure
IPE Real Assets: Listed infrastructure funds should be ‘clearly labelled’
Infrastructure Investor: Is listed infra fake or real?
Inframation: Addressing currency risk in Asia
Inframation: Survey casts doubt on greenfield risk premia
P&I: Institutional investors eye bigger infrastructure allocations, with focus on emerging markets
Institutional Asset Manager: Infrastructure investors continue to attract global investors
Infrastructure Investor: Listed infra is a sector bet
Le casse-tête de la diversification des investissements en infrastructures
Top 1000 Funds: ‘Fake infra’ threatens real deal
EDHECinfra pleads for watchdog intervention on ‘fake infra’
Inframation: Why listed infrastructure still divides opinion
In the mood for loans: Indexation coming to infrastructure investment market
Benchmarking: Measuring up
EDHECinfra benchmarks show the promise of portfolio diversification
Fake infra? They beg to differ
Global investors are cautious of China’s ‘One Belt, One Road’
The Financial Times: Listed infrastructure investment is a great story, but it is a fake
First benchmarks for infrastructure
Inframation: Singapore based EDHECinfra to launch Asia indices
Funds Global: Infrastructure indices launched in Singapore
IPE Real Estate: EDHEC launches infrastructure debt and equity indices
Infrastructure Investor: Listed infra, the asset class that wasn’t?
IP&E Real Assets: Asset Allocation: Saying no to infrastructure
Seeing growth in greenfield funds
Investors arrive at infrastructure investing from different paths
EDHEC spearheads infrastructure research in Singapore
Real Assets: The sting in the loan tail