A Systematic Risk Profile is a combination of risk factors found at the asset level that define the exposure (beta) to common sources of risk (and therefore of market price level) of investments in infrastructure or private equity, such as size, leverage or profits.
When building comparables, taking the Systematic (factor) Risk Profile of the asset into account ensures a genuinely comparable metric, which is never available by looking at raw data since recent transactions or public comps almost never represent the same risk exposures as the asset or portfolio of interest.