Book description
The market for infrastructure is vast and, contrary to popular belief,
the range of potential infrastructure investments is extremely broad. An
investor who does not have a sufficient overview and insight into the
infrastructure market or an awareness of the suitable investment
opportunities and the risks they entail, will find it difficult to
select the right investments.
This book is a comprehensive guide to the subject, bringing together
the topics of infrastructure investments, project finance and public
private partnerships (PPPs), equipping investors with the necessary
theoretical knowledge and background information as well as practical
examples in order to further their understanding of the key aspects of
infrastructure investments.
It answers questions such as: How is infrastructure defined? Which
sectors are classified as infrastructure, how are they categorised,
and what are the differences between them? Is infrastructure an asset
class in its own right? If so, what are its characteristics? What are
the fundamental options for investing in infrastructure? What is a
good starting point for institutional investors? How should
infrastructure funds be evaluated? What risks do they entail and how
can these risks be identified and assessed? How should they be
structured in order to best allocate these risks?
The book discusses the differing objectives and expectations of the
parties involved and the conditions required by public principals and
investors in order to enable these groups to overcome the ?language
problems? they largely encounter.
In addition to background knowledge and information on the latest
developments in the individual subject areas, the book also explains
the methodology of project finance in detail, both for traditional
project finance and in the PPP context, establishing the key
differences to other forms of financing, guiding readers through the
various phases of project analysis on a step-by-step basis using
practical examples.
Well structured infrastructure investments can serve to improve the
risk-return profile of an investor?s overall portfolio on account of
their long term and their low level of correlation with traditional
asset classes. This book will assist investors in their understanding
of infrastructure investments, leading to a better informed portfolio.
"A comprehensive and well-written overview of many relevant
topics in the infrastructure sector; a useful guide for everyone
involved or interested in the infrastructure area."
Henk
Huizing, Head of Infrastructure, PGGM
"A comprehensive book
that effectively marries the topics of infrastructure investing,
project finance and PPPs as well as bridges the gap between the
theoretical and the practical - the authors are to be commended on
this work."
Marc S. Lipschultz, Global Head of Energy and
Infrastructure, Kohlberg Kravis Roberts & Co.
"Quite a book and one that should definitely be part of the
toolkit of those who are interested in the Infrastructure asset class.
Had this comprehensive work been available ten years ago, no doubt,
one or two of us certainly would have done things differently. So,
let's keep it closely at hand as a guide for the future that helps us
deliver even better outcomes for all stakeholders and enables us to
further develop the asset class."
Ron Boots, Senior
Portfolio Manager - Co head Infrastructure Investments, APG All
Pensions Group
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Dr. rer. pol. Barbara Weber, Lic. oec., MSc is the
founding partner of BIBS CAPITAL AG, an investment advisory firm
focused on institutional private equity, portfolios, specialised in
infrastructure and clean energy, and offering a broad range of
strategic and asset allocation services to institutional clients. She
has over 12 years of direct and fund investment experience in these
areas gained during several years with Dresdner Kleinwort Benson,
PolyTechnos and, since 2003, with BIBS CAPITAL AG. She previously
worked for the private sector development group of the World Bank in
Washington DC on Russia. Barbara lectures at the European Business
School and regularly writes for various academic and non-academic
journals. Barbara wrote her Ph. D in Economics at Harvard University
and University of St. Gallen. She holds an MSc in Business &
Operations Research from Warwick University and a post graduate degree
in International Relations from Mannheim University.
Prof. Dr.-Ing., Dpil.-Wirtsch.-Ing. Hans Wilhelm Alfen is head
of the chair of Construction Economics at the Bauhaus-Universität
Weimer in Germany, General Manager and founder of Alfen Consult GmbH,
Weimar, and Partner of BIBS CAPITAL AG, Zürich. He has more than 20
years of practical experience in developing and investing in
infrastructure as well as researching and teaching in more than 25
countries in Africa, Asia, Europe and Latin-America. Before joining
the Bauhaus-Universität Weimer he worked in leading positions in the
construction as well as in the consulting industry. Professor Alfen is
significantly involved in the German PPP standardisation process as
researcher and advisor. He can refer to a long list of national and
international publications.
