2 September 2019
Adapting to a changing agenda
How have the investment parameters that govern infrastructure as an asset class changed over the past decade?
Vincent Levita: The asset class has evolved significantly over the last 10 years. Infrastructure was far more limited a decade ago; it was very much a one-size-fits-all asset class. Fast-forward to 2019 and the degree of sophistication that we see, among both general partners and limited partners, has changed exponentially.
There is far more segmentation – by infrastructure type, sector and risk profile. In many ways, the evolution of infrastructure has mirrored that of real estate. The market is smaller, of course, but as it grows it is following the same journey – expanding in scope with greater levels of specialisation.
At the same time, you see GPs now ready to look at more complex situations and to extend their investment mandates. InfraVia, for example, was one of the first infrastructure firms to invest in data centres.
Today – while not yet core infrastructure – data centres have become far more mainstream.