AN abundance of global savings. Trillions of dollars of negative-yielding bonds. And a bevy of institutional investors hungry for positive, long-dated yields to match their liabilities.
Conditions are ripe for an avalanche of private-sector capital to flow into unlisted infrastructure, turning an industry facing an estimated US$49 trillion shortfall into an asset class which, its sponsors say, offers strong cash flows, uncorrelated returns and positive real yields.
Fifty-eight per cent of active investors surveyed in the second quarter of the year by data provider Preqin will invest more than US$100 million in unlisted funds over the next 12 months compared to 42 per cent who said that in the corresponding...
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