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Featured image for “Beyond the Illusion of Stability: The Case for Valuation Discipline in Private Markets”

Insights

Opinion pieces from the team, and uses cases covering private markets, infrastructure investment, climate change, social risk, and more.

Featured image for “Wall Street Journal: The Price of Inertia”

Wall Street Journal: The Price of Inertia

High hurdle rates are not in the interest of investors in infrastructure funds. This articles was first published in the Wall Street Journal in April 2021. Fund-raising by infrastructure fund managers is at an all-time high, but so is the amount of funds raised that has not been invested. The amount of so-called ‘dry powder’ has trebled in 10 years

Featured image for “FT: Ignorance is not bliss: can investors ignore losses in airports?”

FT: Ignorance is not bliss: can investors ignore losses in airports?

The risk of default in airports has increased, as has the risk of bankruptcy. This piece was originally published in the Financial Times and the Wall Street Journal in April 2021. Can Covid Impact Long Term Investments? The impact of COVID-19 lockdowns on the airport sector highlights a dilemma about how investors approach the valuation of private, illiquid infrastructure assets:

Featured image for “FT: How exposed are infrastructure investors to inflation risk”

FT: How exposed are infrastructure investors to inflation risk

The sensitivity of the value of unlisted infrastructure equity investments to changes in the discount rate is about 10% on average. This article was originally published in the Financial Times in April 2021. A Partial Inflation Hedge A return of inflation could unveil a significant risk exposure for investors in infrastructure. This asset class is often presented as an inflation

Featured image for “Report: Q3 2020 Covid-19 Revenue Forecasts Update”

Report: Q3 2020 Covid-19 Revenue Forecasts Update

The Q3 2020 release of the EDHECinfra indices incorporates the views and asset-level revenue forecasts of our team of financial analysts. by Jack Lee and the team 1. Overview: Q3 Update – EDHECinfra updates to cash flow projections due to the impact of the Covid-19 pandemic on infrastructure investments At the beginning of the third quarter of 2020, some countries

Featured image for “Failure of regulation means unfair tolls for users of French roads in new study endorsed by Senate investigative committee.”

Failure of regulation means unfair tolls for users of French roads in new study endorsed by Senate investigative committee.

18 September 2020 – The high level of tolls on privatised highways is a sensitive matter in French politics. The last renegotiation in 2015 involved now-President Macron when he was Minister of the Finance. A new EDHECinfra research paper on the adequate level of tolls on French roads is prominently featured in a report released today by the Senate Investigative

Featured image for “Archaïsme et injustice de la gestion des péages autoroutiers en France [in French]”

Archaïsme et injustice de la gestion des péages autoroutiers en France [in French]

18 Septembre 2020- Une nouvelle publication de recherche de l’EDHEC Infrastructure Institute dont les conclusions sont reprises dans leur intégralité par le rapport de Commission d’enquête du Sénat sur « le contrôle, la régulation et l’évolution des concessions autoroutières » publié le ce jour, met en lumière l’archaïsme de la réglementation des péages dans les concessions d’autoroutes en France, et appelle à