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Infrastructure Investors Survey 2013
Where next on the road ahead?
As funds emerge stronger from the economic downturn and direct investors firmly establish themselves in the market, the latest in this report series provides an incisive analysis of the infrastructure investors sector today and predictions going forward.
The only study of its kind, led by the Deloitte UK member firm, explores the major trends and drivers across performance, the changing landscape and how funds are responding in this increasingly competitive marketplace.
- 70 percent of infrastructure investors are achieving or exceeding their target internal rates of return. This strong performance reflects a greater focus on asset management - 41 percent have recruited dedicated asset management teams.
- Competition across the sector continues to rise, as direct investors have established themselves and core infrastructure assets are in short supply. In response, investors are exploring alternative strategies, including a greater focus on bi-lateral opportunities, new markets and models.
- When asked to state key risks to investments, 35 percent cited regulation and 29 percent cited political risk.
- 73 percent considered that lenders' appetite for infrastructure is high (32 percent) or very high (41 percent); while fundraising is subject to greater diligence from LPs.
- Exits are set to pick up significantly over the next few years, as first generation funds approach maturity.
- Looking forward, regulated utilities and transport are among the most attractive asset sub-classes for investors; while Western Europe, in particular the UK, Germany and Scandinavia, remains the most popular geography, followed by North America and Australasia.
Infrastructure Investors survey chart 2013
About the survey
This is Deloitte's third survey of the infrastructure investor sector. The only study of its kind brings together interviews with 22 leaders from a wide cross-section of leading infrastructure investors (both funds and direct investors) across Europe, with in-depth analysis of historical trends from surveys in 2010 and 2007.
About Deloitte's infrastructure investors team
Deloitte advises clients across the infrastructure M&A and fund lifecycle, providing end-to-end support, from the moment the funds are raised and opportunities are identified, to the conclusion of the transaction and onwards through the life of the asset.