The Handbook of Infrastructure Investing

by Underhill, Michael D.

• ISBN13: 9780470243671
• ISBN10: 0470243678
• Format: Hardcover
• Copyright: 2010-06-01
• Publisher: Wiley

Summary

Comprehensive overview of important infrastructure topics from sector experts.Investing in infrastructure is a burgeoning area for professional investors, managers, practitioners, as well as academics (professors and students). This Handbook covers topics such as timelines for domestic and international infrastructure investing, progression of strategies and present day trends/the future of the industry; traditional energy sector overviews and investment opportunities for the future; where the money goes; the strength of fundraising; the resurgence in transportation; types of deals and how transportation finance has changed; the biggest investment opportunity set; learning from some of the oldest hands in the business; how to make money, do well, and do good; the challenges of successful infrastructure programs with labor unions; events in history that have ushered in new reforms which have created a new economic era outside of the U.S. and Western Europe; and commentary from public pension fund, endowment, foundation and family office investment professionals. Each chapter is contributed by experts particular to the sector discussed.Michael D. Underhill is chief investment officer at Capital Innovations, LLC where he is responsible for leading all of the firm's investment activities and chairing the firm's Investment Committee. In addition, Michael serves on several advisory boards on behalf of Capital Innovations and its clients. Michael is a frequently quoted expert on the infrastructure industry. He has been quoted extensively and as a resource in Dow Jones Publications, Investments Pensions Europe, The Economist, Pension and Investments and numerous industry journals. Prior to founding Capital Innovations, LLC, Michael was a Managing Director at an $18 billion dollar alternative investment firm where he was involved in the direct investment, co-investment and asset management businesses. He began his career 18 years ago with Lehman Brothers working on quantitative analysis of fixed income securities and asset securitization.

Author Biography

Michael D. Underhill is the Chief Executive Officer and Chief Investment Officer of Capital Innovations, LLC, a global infrastructure investment advisory firm established in 2007. He is responsible for managing the firm's investment activities and chairing the firm's investment committee. He is a quoted expert on infrastructure investing in both print and broadcast media and has served as a resource in Dow Jones Publications, Investment & Pensions Europe, The Economist, Pension & Investments, and numerous industry journals. Underhill has directly advised some of the largest sovereign wealth funds, public pension funds, and financial institutions on investing in the infrastructure sector across unlisted and listed infrastructure securities. During the span of his career, he has been involved in over $15 billion of investment management transactions. Underhill earned a BS in economics from Pennsylvania State University.

Table of Contents

Acknowledgments	p. vii
About the Contributors	p. ix
Disclaimer	p. xix
America's Essential Infrastructure: A Key to Competitiveness	p. 1
Transportation Infrastructure	p. 19
Energy Infrastructure and the Industrialization of Emerging Markets: Framework for Private Sector Investment	p. 35
Infrastructure Investing in the Electric Power Sector	p. 49
Water and Wastewater Infrastructure	p. 63
Master Limited Partnerships	p. 81
Clean Energy Infrastructure: Moving from a Niche Opportunity to a Mainstream Asset Class	p. 111
Infrastructure and Union Labor: A Match Made in Heaven?	p. 131
How Valuation Can Vary Meaningfully: The Pennsylvania Turnpike	p. 145
What Is Listed Infrastructure?	p. 163
Institutional Infrastructure Program Management	p. 173
Legal Aspects of Infrastructure Investments	p. 181
Index	p. 189
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