The Infrastructure Investor Podcast

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.

Esther Piner, the Global Head of Infrastructure at Partners Group, dives into pressing issues surrounding energy and grid resilience. She discusses the recent Iberian blackout as a warning for preparedness, while addressing how data centers manage resilience economically. Esther also explores the impact of volatility on infrastructure investment and shifting LP sentiments due to rising inflation. Her insights reveal the delicate balance of maintaining affordability and the operational challenges that come with building resilience in today’s market.

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.

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.

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.

Sean Klimczak, Blackstone's Global Head of Infrastructure, dives into the firm's impressive 2024 performance with a 21% gross return. He reveals the three pillars that define a classic Blackstone infrastructure deal. The discussion highlights the strategic acquisition of pan-Asian data center business AirTrunk and explores the bullish outlook on AI infrastructure opportunities. Klimczak emphasizes the renewed focus on transportation investments and the advantages of an open-ended portfolio, positioning infrastructure as a vital growth sector.

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.

Petya Nikolova, Deputy CIO and Head of Infrastructure at the New York City Comptroller’s Bureau of Asset Management, discusses the strategic importance of infrastructure investments. She highlights how infrastructure has thrived during inflation, achieving impressive returns. Nikolova also delves into the asset class's role in diversifying portfolios and managing exposure to digital infrastructure and energy transitions. Additionally, she shares insights on mid-market investments and the ongoing consolidation trends within the sector.

This episode is sponsored by Ridgewood Infrastructure and I Squared Capital   The need for new infrastructure in markets like the United States is immense, and private capital has a big role to play in making it happen. The mid-market may be especially well-positioned to offer that institutional capital a share in the growth potential of the mega-trends shaping the future of global infrastructure. So in this episode, attention turns to this segment of the market. Gautam Bhandari, co-founder and managing partner of I Squared Capital, and Ross Posner, managing partner of Ridgewood Infrastructure, share their insights on how the mid-market has evolved to date, how well it’s stood up in difficult macroeconomic conditions, where to look for those growth opportunities, and why the sector is primed to benefit from a predicted infra supercycle.

Laurent Chatelin, a partner at Eurazeo, and James Mittell, director at Actis, dive into the pressing energy trilemma of sustainability, security, and affordability. They highlight the rapid rise of renewable energy and its economic effects across Asia, the Middle East, and Africa. The conversation reveals the inequalities in renewable funding, particularly in emerging markets, and discusses Europe’s crucial role in leading this transition. They also explore innovative solutions like biogas and green hydrogen, while tackling the challenges investors face in today's political landscape.