August 2010
Intermediate to advanced
509 pages
15h 40m
English
book
Alternative Assets and Strategic Allocation: Rethinking the Institutional Approach
by John B. Abbink
Content preview from Alternative Assets and Strategic Allocation: Rethinking the Institutional Approach
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CHAPTER 9
Holding Private Assets for Their Cash Flows
A quick transition here from very short time horizons to long and potentially unlimited ones. Apart from the mezzanine and other long-term loans discussed in Chapter 5, there are numerous assets for which there is no liquid market that can also be held over long periods in order to enjoy the cash flows they generate, and many of these have no terms to them. These include, but are by no means limited to:
• commercial or residential real estate,
• operating companies,
• mines,
• timberland,
• intellectual property rights,
• farmland and agricultural operations,
• public infrastructure such as toll roads,
• private infrastructure such as pipelines,
• aquaculture, and
• ocean-going vessels.
Although any ...
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