This report, produced in collaboration with Ares Asset Management, illustrates that private infrastructure assets can provide resilience in the current rising rate and high inflation macroeconomic environment. The primary structural reason for this resilience is the ability of private infrastructure assets to increase revenues along with inflation. 

In this paper, we compare the behaviour of unlisted infrastructure equity investments with that of traditional assets, with a focus on the effects of shocks such as recessions, financial market crises and policy shocks. These findings have risk management and prudential implications.

This report is the first in a series of annual publications by BCG and EDHECinfra exploring the state of infrastructure investment globally. “Infrastructure Strategy 2022” provides a new perspective on the investment styles and risk-adjusted performance of different groups of infrastructure investors.

The infraMetrics fund strategy analyser allows benchmarking the gross and net performance of unlisted infrastructure funds using robust IRR and multiple quartiles that are not biased or skewed by the limitation of manager contributed data.