| Infrastructure Investment |
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Pantheon has a long history of investing in infrastructure assets through our private equity managers. Our infrastructure programme provides incremental diversification through a multi-strategy approach which combines exposure to primaries, secondaries and co-investments. Our people As for our private equity funds, diversification is a key component to Pantheon’s approach to building portfolios of infrastructure investments. We diversify by: > Investment Type Our primary investment strategy is supplemented by the opportunistic purchase of secondary interests, offering the potential to diversify investments into prior vintage years, as well as providing a number of other benefits. We also focus on co-investment opportunities. > Manager We target a mix of investment strategies which includes “value creation” managers that apply a value enhancement or activist investment approach and “core” managers with more of a focus on downside protection. > Industry Sector We focus on a range of industry sectors including but not limited to energy, transport, communication, water and social infrastructure. > Vintage Year We spread risk across market cycles in order to avoid over-committing capital in periods when asset valuations are high. Our capital is usually committed over 3-4 years, and the funds in which we invest commit their capital over 3-6 years. > Asset Stage We are primarily focused on opportunities in mature operating assets and existing assets with refurbishment needs (“brownfield”). > Geography We are primarily focused on the developed infrastructure markets where investment opportunities should continue to arise from underinvestment in infrastructure, ongoing privatisation by governments and opportunities coming from the private sector. In addition, we will consider selective investments in developing markets. |
