REPORTS

Our analyses covering private equities, private infrastructure and infra debt markets.

Featured image for “Report: Q4 2020 Covid-19 Revenue Forecast Updates”

Report: Q4 2020 Covid-19 Revenue Forecast Updates

The Q4 2020 release of the EDHECinfra indices incorporates the views and asset-level revenue forecasts of our team of financial analysts. This report updates the Q3 2020 report and is presented following the TICCS® taxonomy of infrastructure companies. Each quarter, the team reviews the revenue forecasts of 650 companies that are currently living in the EDHECinfra universe, based on the...

Featured image for “Q2 2020 Index Release: More negative returns for unlisted infrastructure investments but Contracted assets show resilience to Covid-19”

Q2 2020 Index Release: More negative returns for unlisted infrastructure investments but Contracted assets show resilience to Covid-19

The Q2 2020 release of the EDHECinfra indices marks a new quarter of negative returns for the unlisted infrastructure asset class. The infra300 index is down -1.5% on the quarter ending 30 June 2020. This index measures the average mark-to-market performance of 300 unlisted infrastructure equity investments that make a representative sample by sector, corporate structure, and business model of...

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Report: Impact of Covid-19 on Infrastructure Companies Forecast Revenues in Q2 2020

By Jack Lee and the data team. Overview IC10 Power Generation x-Renewables IC40 Energy and Water Resources IC60 Transport 4.1 IC6010 Airport Companies 4.2 IC6030 Port Companies 4.3 IC6040/60 Rail and Urban Commuter Companies 4.4 IC6050 Road Companies IC70 Renewable Power IC80 Network Utilities 6.1 IC8010/20 Electricity Distribution/Transmission Companies 6.2 IC8040 Water and Sewerage Companies Dividend Outlook for Covid-19 Impacted...

Featured image for “Infrastructure investors should abandon absolute return benchmarks: Lessons from the Covid-19 lockdowns”

Infrastructure investors should abandon absolute return benchmarks: Lessons from the Covid-19 lockdowns

This paper argues that there is no reason for investors in unlisted infrastructure to continue using absolute return or ‘cash +’ benchmarks. It calls for investors to abandon them and adopt market-relative benchmarks based on fair value and representative data....

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Report: Q1 2020 estimates of Covid-19 impact in infrastructure companies future revenues

By Jack Lee – Deputy Head of Data In response to the coronavirus Covid-19, many governments have put their nations into “lockdown” measures and/or strict movement controls. These inevitably have a knock-on effect on various infrastructure business models and their relevant investments. The business models most impacted include merchant and regulated arrangements, as per the TICCS® Business-Risk Classification, where revenues...

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2019Q4 Index Release (Erratum)

In the 2019Q4 Index Release made on January 16, 2020, it was mentioned that South East Water suffered a negative return in the 4th quarter of 2019 due to a “revision of its financial forecast.” This statement was not accurate on two counts: The forecast in question is produced by EDHECinfra’s cash flow models and analyses but was not produced or...