REPORTS

The year ended much like 2022, inflation was still above most central banks’ targets, Interest rates were significantly higher than 18 months previously. However, the rate of increase in interest rates has slowed. With ongoing geopolitical turmoil, we view that interest rates are likely to stay elevated for some time. Given this scenario, we anticipate less extreme volatility from the...

This month, instead of looking at a transaction changing hands through a willing buyer and seller, we are looking at a topic that could be a significant interest for investors in network utilities today: equity injection and, specifically, how the infraMetrics® platform can help you determine the IRR you should expect for such a transaction. Currently, we see that the...

We have demonstrated over the last few newsletters how to employ infraMetrics® data to price up already completed deals. This month we’re looking to try something different: price up a possible transaction. This deal hasn’t happened, and we’re not sure if it will, but this is a demonstration of the value of the data available in the infraMetrics® platform. In...

In June, Arjun Infrastructure Partners acquired a 10% stake in Angel Trains from Public Sector Pension Investment Board (PSP Investments), a Canadian pension fund. Despite this transaction, PSP Investments will continue to hold the majority ownership of Angel Trains, retaining a 64.25% stake in the company. The financial details of the transaction have not been publicly disclosed. Established in 1994,...

EDHECinfra unlisted infrastructure equity indicesOur analysis of infrastructure equity indices has been based on three indices in equal weights and local currency: infra300 index: a global infrastructure index, comprised of 300 assets with a total market capitalisation of USD320 billion. infra100 Core index: consists of 100 infrastructure companies in the core segment of the infrastructure market. InfraGreen index: with 106...

Eiffage, a French infrastructure operator, has strengthened its hold on the Millau Viaduct concession by acquiring the remaining 49% stake from Banque des Territoires, thus gaining full ownership. The Millau Viaduct, standing among the most elevated bridges globally, was built to reduce traffic congestion and improve traffic flow between Paris and Barcelona. It provides a direct route between the two...