The Infrastructure Investor Podcast

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.

In this episode, Infrastructure Investor senior editor Bruno Alves, deputy editor Kalliope Gourntis and Americas editor Zak Bentley take a deep dive into the infrastructure fundraising market. After two years of contracting totals, fundraising for unlisted, closed-end vehicles hit a low point in 2024. With circa $92 billion raised, last year’s tally was the lowest since 2015 – and the first time in nearly a decade that fundraising totals have dipped below $100 billion. We discuss when the market can expect a recovery in fundraising, the ever-larger amounts of time spent on the road by managers to raise funds, and what a sustainable return to health could look like. Read more: Full year fundraising fully disappoints

This episode is sponsored by Nuveen and Quinbrook Infrastructure Partners The state of renewable energy is a series of contradictions. On the one hand, solar panels are cheaper, but they may not stay that way with the threat of tariffs from the incoming Trump Administration. Distributed energy and behind-the-meter power generation are promising, but there are persistent structural obstacles, especially around microgrids. Meanwhile, AI projects require more and more energy while so many grids are already struggling to meet current needs.   So what does this mean for energy investors today? Will the Trump Administration curb progress on renewables in favour of fossil fuels, or will energy demands boost every alternative available? Where are the opportunities worth pursuing and what technologies are living up to their promise? In this episode, we’ll discuss these questions and more with Don Dimitrievich, the senior managing director and portfolio manager for energy infrastructure credit at Nuveen, and David Scaysbrook, a co-founder and managing partner of Quinbrook Infrastructure Partners.

In this episode, Infrastructure Investor senior editor Bruno Alves sits down with Hadley Peer Marshall, Brookfield Asset Management’s chief financial officer and co-head of infrastructure debt and structured solutions. Given Brookfield manages some of the asset class’s biggest strategies across core equity, pure-play infrastructure debt and energy transition, scale is a big part of the discussion, which also covers Brookfield’s corporate tie-ups with the likes of Microsoft and Intel, its preconditions for launching new strategies, as well as the opportunity in the ever-expanding infrastructure debt market.

This episode is sponsored by Nuveen and Igneo Infrastructure Partners With the American electorate recently handing the White House back to Donald Trump, it seems like an opportune time for Infrastructure Investor to unpack what it could all mean for the infrastructure asset class – in particular, the US commitment to renewables and the energy transition. Trump is, after all, the man who previously removed the world’s largest economy from the Paris Climate Accord and has since sounded less than supportive of President Biden’s initiatives to stimulate the economy and create jobs through a series of infra-led federal legislation. So, is the Inflation Reduction Act in danger of being repealed? Does global capital have cause to be jittery? Or is the case for renewables infrastructure now simply too strong for even a sceptical Trump-led administration to deny. Helping us to address these questions and concerns are John Ma, a partner and co-head of Igneo Infrastructure Partners’ North America team, and Don Dimitrievich, the senior managing director and portfolio manager for energy infrastructure credit at Nuveen.