The Infrastructure Investor Podcast

Actis: Investors need to think of growth markets as ‘most markets’

Editor-in-chief Bruno Alves sits down with Actis chairman and senior partner Torbjorn Caesar.

In a wide-ranging discussion with the growth markets specialist, Caesar argues that perception of risk (versus real risk) is still the main impediment to channeling more infrastructure capital into these markets. He also explains why investors should think of growth markets as “most markets”, how strong demand for critical infrastructure offers the strongest risk mitigation, which markets offer the best opportunities, and much more.

Partners Group: ‘LPs need more regular liquidity than some historical strategies can offer’

In this episode, editor-in-chief Bruno Alves sits down with Partners Group’s head of infrastructure, Esther Peiner.

The discussion covers a broad range of topics, including the recent Iberian blackout and the importance of resilience, how to invest through the current volatility, why managers have to think of a world where LPs need more regular access to liquidity, how persistent inflation could threaten the asset class's diversification benefits, and much more.

Slower dealflow is forcing people to think outside the box

In this episode, editor-in-chief Bruno Alves sits down with Nathalie Tidman, editor of Infrastructure Investor Deals, our new transactions-focused affiliate title launched in January, and Americas editor Zak Bentley, to talk about the deal landscape.

The discussion delves into the slow pace of European M&A and why it predates current market volatility, why LPs are shying away from platforms dominated by early-stage pipelines, opportunities in the transport and energy-from-waste sectors, and the rise in infrastructure-adjacent opportunities.

AI, geopolitics and other takeaways from the Global Summit

Infrastructure Investor editor-in-chief Bruno Alves sits down with Americas editor Zak Bentley to discuss their main takeaways from the Infrastructure Investor Network’s Global Summit, recently held in Berlin, that featured more than 3,000 members, including 800-plus LPs.

The discussion covers artificial intelligence, investors’ craving for certainty in the midst of geopolitical upheaval, the double-edged sword of regulation, LP appetite for mid-market products, direct investing and much more.

Infrastructure Investor Network members feeling the need to connect further should keep our upcoming Investor Forum in mind. Taking place in London 9-10 September, it will gather 300-plus industry leaders, including more than 150 LPs. Find out more here.

Infrastructure’s digital age

This episode is sponsored by Edmond de Rothschild and Palistar Capital

Digital infrastructure is developing rapidly, turbocharged first by the coronavirus pandemic and now by advances in artificial intelligence, which have turned data centres into arguably the hottest investment in infrastructure at the moment. The sector also includes fibre and towers, both of which are also attracting strong investor interest.

This episode of The Infrastructure Investor Podcast focuses on the growth of – and opportunities within – digital infrastructure’s three key subsectors. Jean-Francis Dusch, global head of infrastructure and structured finance at EdR, and Josh Oboler, investment partner at Palistar Capital, explore how AI is transforming the data centre landscape, where to find the best opportunities in fibre, and why towers continue to make such a good investment.

The three pillars of a ‘classic Blackstone infra deal’

In this episode, editor-in-chief Bruno Alves sits down with Blackstone global head of infrastructure Sean Klimczak.

Infrastructure was Blackstone’s best-performing asset class in 2024, generating a gross return of 21 percent, according to the firm’s Q4 results. Blackstone is also one of the few industry titans fully committed to investing in the asset class through an open-ended strategy.

Unsurprisingly, a big part of our conversation focuses on what’s underpinning that strong performance – including the three pillars that make a “classic Blackstone infrastructure deal”, as Klimczak put it – as well as Blackstone’s blockbuster acquisition of pan-Asian data centre business AirTrunk, why Klimczak continues to be bullish on the AI infrastructure opportunity, the enduring appeal of transportation, and the advantages of building a portfolio within an open-ended framework.

Is infra climbing up the risk curve?

As infrastructure changes and evolves as an asset class, we often discuss whether it’s become riskier. But what does "risker" actually mean?

In this episode, editor-in-chief Bruno Alves, Americas editor Zak Bentley and Anne-Louise Stranne Petersen, senior reporter – energy transition, debate what asset class characteristics are falling by the wayside, which new risks investors need to be aware of these days – particularly in the burgeoning energy transition arena – and whether a riskier asset class is still something most people would call infrastructure.

NYC BAM: ‘Infra has the best inflation passthrough in private markets’

Editor-in-chief Bruno Alves sits down with Petya Nikolova, deputy CIO and head of infrastructure at the Office of the New York City Comptroller’s Bureau of Asset Management. The Bureau oversees the investments of the five New York City retirement systems, which have a collective $280 billion of assets under management, with $8.4 billion invested in infrastructure as of December 2024.

Nikolova has led the infrastructure programme since inception and has now had the opportunity to see it perform in an inflationary environment. That performance has confirmed the asset class’s peerless inflation passthrough capabilities. In a wide-ranging discussion, Nikolova tackles infrastructure’s role as a diversifier in the systems’ portfolios, how to thoughtfully manage exposure to the mega-trends of digital infrastructure and the energy transition, and whether infrastructure as an asset class is climbing up the risk curve.

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