Infrastructure companies are high-quality credits where “hard assets” are critical to national infrastructure and hard to replicate.

10+ year

Track record

0

Exposure to commodity-exposed upstream energy

$500M+

Average issue size

0

Defaults by an energy infrastructure issuer in most challenging environments

Infrastructure assets are defensive, recession-resistant and have demonstrated a significantly lower incidence of default and credit loss than the broader market.

Infrastructure credit offers a very unique combination of above-market yield and below-market credit risk, which is very difficult to find elsewhere in broader liquid credit markets.

Infrastructure Credit

Investment Fundamentals

Primary Issuance

Strong allocations in primary issuance.

Infrastructure Spending

Over $68 trillion infrastructure investment required through 2040.

Source: Global Infrastructure Hub
  • Capital required to support urbanization and population growth in emerging markets as well as repair and expand existing infrastructure in developed markets.
  • Governments are overburdened by debt, necessitating private capital investment.

Low Incidence of Default

Extremely low incidence of credit loss and default.

Attractive Yields

Complexity of sector results in attractive yields.

Unjustifiably Low Ratings

Credit rating agencies penalize infrastructure and energy companies with unjustifiably low credit ratings.

Our People

Infrastructure credit team fully integrated with broader marketable securities team, managing assets across energy, infrastructure and renewable strategies.