How has the crisis affected the infrastructure market?
Infrastructure is highly counter-cyclical. It’s a solid asset class and one of the few, especially at times of economic uncertainty, that can combine public and private investment to inject immediate momentum into the economy and bring about long-term financial and extra-financial benefits. For governments around the world, the current market environment presents an excellent opportunity to accelerate important structural changes, like energy transition and digitalization, that go hand in hand with infrastructure investment.
In spite of the crisis, the market has remained active, with a solid pipeline of investment opportunities – some of them more profitable than before the pandemic hit – in essential infrastructure sectors such as renewable energy, telecommunications, and social infrastructure.
Between now and 2035 the European Union will need an estimated €2 trillion in infrastructure funding, yet public finances are weakened and banks are less and less able to support such needs. Private capital, therefore, is indispensable while offering substantial returns.
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Generali Global Infrastructure (GGI), part of the multi-boutique platform of Generali Investments, is an independent asset management company based in Paris that focuses mainly on infrastructure debt investing.
GGI invests in infrastructure debt across a wide range of geographies and industries and selects investments according to strict credit quality and ESG (environmental, social, and governance) criteria. GGI was formed in 2018 as a partnership between the Generali Group, which holds a controlling share, and Philippe Benaroya, Alban de La Selle, and Gilles Lengaigne, three professionals with solid experience in infrastructure investment.
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