With an outstanding track record spanning over 22 years, €6.5 billion in direct infrastructure debt and equity investments made since inception, and
€3.1 billion of funds currently under management,
we are one of the world’s largest and most experienced independent infrastructure managers.
We are a long-term investor, partnering with clients to invest in true infrastructure assets that protect real investment value, while providing predictable cash returns. This is achieved by investing in assets with clear and measurable cash flows and adding value through active asset management.
January 2020
Monetary policy in its current form has less firepower than ever before. Despite a decade of extremely accommodative monetary policy, global economic growth and inflation since the Global Financial Crisis (GFC) have been relatively subdued. During this time, cash rates have been at all-time lows and central bank balance sheets have multiplied.
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December 2019
This month’s feature article provides an overview of the general characteristics of investing in fibre networks, looks at the rollout of fibre generally across Europe, and takes a deep dive into the German market as a more detailed example of how the fibre investment landscape is changing.
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November 2019
This month’s feature article discusses the notion of Modern Monetary Theory. We explore flaws in current monetary policy approaches, the potential implications of the introduction of MMT, and assess whether MMT could really ever become a mainstream economic policy.
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October 2019
In last month’s article, we discussed whether the years in the lead-up to the Great Depression provided a precedent for what we are witnessing in markets today. In the latest edition of our thought leadership articles we set out our view on the current state of investment markets.
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September 2019
So far, 2019 has marked a year of stark turnaround by the US Federal Reserve (the Fed). From December 2015 to December 2018, the Fed raised rates 10 times, from its all-time low of 0% to a target range of 2.50-2.75%. At the end of 2018, the Fed was forecasting at least two further rate increases in 2019. By mid-2019, the Fed had not increased rates further, but rather delivered a 25 basis point rate cut at its late July meeting. What caused this sudden change of heart?
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August 2019
Whitehelm’s latest Thought Leadership article explores the key risks in renewable generation assets for investors and ways these can be addressed. The article presents case studies from a number of countries where sudden changes to the regulatory environment have impacted the viability of renewable energy projects.
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January 2019
Listed infrastructure and listed property funds hold similar underlying assets to their unlisted counterparts. Despite this, the return and volatility profiles of listed versus unlisted real assets are different.
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Peninsula Link is a 27-kilometre freeway located in South-East Melbourne connecting the suburbs of Frankston and Mount Martha. The project was procured under a Public-Private Partnership (PPP) which involved the design, construction in addition to the long-term maintenance and operation of the freeway. Peninsula Link commenced operations in 2013 and, given its structure as an availability PPP, is not subject to demand risk.
Pioneer Public Properties owns a portfolio of 174 preschools and 8 care homes across Norway, Finland and Sweden. Pioneer Public Properties is a pure asset owner, with long-term, inflation linked, triple-net leases with leading preschool operators. Contractual terms are typically for 15 to 20-years and often include additional 15-year extension options.
Autovia del Noroeste (Aunor) operates a 62.4km motorway (RM-15) located in Murcia, Spain under a shadow toll regime. The concession for the construction and the operation of the motorway was granted by the Regional Government of Murcia in May 1999 and expires in September 2026. Aunor benefits from robust patronage with traffic currently 158% above the maximum guaranteed average daily traffic, ensuring very stable cashflows. Aunor is owned by Sacyr Concesiones (51%) and Eiser Infrastructure (49%).
One of the world’s most experienced infrastructure managers & investment strategy advisers
