Chapter 17

Investing in Infrastructures: What Financial Markets Want

Alberto Ponti    Pan-European Utilities Team, Societé Générale – Cross Assets Research, London

Abstract

The chapter aims at answering a simple question: What is it that makes investors want to put their money in new (existing) infrastructures? The question is simple but the answer needs to be more articulated. To this end the chapter gives first a historical perspective of listed utilities in Europe to see what lessons can be learnt, which mistakes have been made, and why investors think the way they think. The institutional investors’ market is then framed in terms of size and internal organization so as to gauge their appetite for risk as well as the limits and benefits for ...

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