Infrastructure’s steady yields are luring private capital investors to a space that was once almost exclusively the purview of institutional investors
TRADITIONAL power assets and nascent South-east Asian markets are among the targets of infrastructure funds seeking value in an increasingly popular space.
Hamilton Lane, for instance, is pursuing more opportunities in the small- to mid-market space, where valuation multiples are anywhere from half to a fifth of what they are at the top end.
“We’ve seen consistently better entry values,” said Brent Burnett, its head of infrastructure and real assets. He defines small companies as those with enterprise values below US$500 million, while those in the mid-market could be as large as US$1 billion.
