Market conditions

Infrastructure investments remain an attractive source of income and capital appreciation for investors.

Accelerating trends in the macro environment have increased investor appetite for the infrastructure asset class.

The year to 31 March 2022 saw rising inflation followed by expectations of rising interest rates and a tightening of monetary policy from central banks. In this environment, demand for infrastructure assets typically increases since they can act as a hedge with revenues directly or indirectly linked to inflation.

Market segmentation and investment focus

Investment activity

Market conditions have shaped our investment activity to focus on:

  • Mid-market economic infrastructure businesses in the core and adjacent sub-sectors;
  • Economic infrastructure businesses with characteristics that can be managed to enhance value over the period of ownership, including for example some level of demand or market risk.

Latest results

Our results for the six months to 30 September 2022 were announced on 08 November 2022.