Private markets: Finding the optimal path for growth
With 60/40 portfolios coming under pressure, is it time to consider an allocation to private markets?
Infrastructure
Our highly-resourced global infrastructure team seeks out compelling investments across infrastructure markets - each designed to deliver attractive, stable and more predictable long-term returns.
Experienced team
We have a large and experienced team of infrastructure specialists. The team is well placed to leverage its extensive networks and deep research capabilities to source attractive investments across economic and concession infrastructure markets, creating positive outcomes for our clients.
Opportunity
Through our infrastructure equity offering, we give our clients the opportunity to invest directly in core and concession infrastructure assets that provide essential public services and that generate economic growth. These assets can provide attractive, stable and more predictable long-term returns given their importance in a functioning society.
Scale
We are part of the abrdn brand which manages more than $25.7 billion of assets across private markets. This makes us part of one of the largest private markets investors in the world. In total, over $7.0 billion of infrastructure investments is managed on behalf of investors.*
*Source abrdn. As of December 31, 2020.
Team
Established in 1998, our highly experienced team of 34 investment professionals have invested in over 120 infrastructure investments to date (May, 2019). The team is based in London, Edinburgh, Paris, Madrid, Amsterdam, Bahrain, Sydney and Bogota.
Investors
Our investor base spans both public and corporate pension funds, insurance companies and family offices across the world.
Strategy
We focus on availability-based, partially inflation-linked cash flows with little or no correlation to economic cycles. Value resides in the contract, with limited risk associated with residual asset value.
We invest in hospitals, schools, roads, rolling stock, government accommodation, social housing, and waste and water in the UK, Europe, Australia, US, the Middle East and Latin America.
Concession portfolio
Philosophy
Our economic infrastructure investment philosophy centers on our belief that infrastructure is a long-term asset class capable of delivering attractive, consistent returns to investors. Our approach is focused on:
- developing a long-term fund structure which is aligned with investors' objectives.
- creating a portfolio of mid-market core/core+ infrastructure investments.
- recognizing the importance of effective asset management and stakeholder engagement.
- clearly defining what constitutes core infrastructure within our target return range.
Investors
Our investor base spans both public and corporate pension funds, insurance companies and family offices across the world.
Strategy
We invest in operational assets with limited or no construction risk. We target infrastructure investments in Europe which are typically yielding from day one. We are attracted to the following investment characteristics:
- lower to mid-market assets in less competitive areas of the market.
- assets which provide essential services and have predictable cash flows.
- regulated assets or assets with a strong, contractual framework.
- lower risk assets that require limited operational development.
- majority stakes or minority interests where we have appropriate governance rights.
Economic Portfolio
Meet the team
Dominic Helmsley
Head of Core Infrastructure
Dominic heads up the Core Infrastructure team at abrdn. He has over 20 years’ experience in the infrastructure sector combining extensive mergers and acquisitions experience with asset management expertise. Dominic spent 12 years with BAA plc where he headed their international acquisitions group and oversaw the acquisition and management of a number of overseas investments. Dominic then spent eight years in the fund management industry, initially with Babcock and Brown, as part of the European Infrastructure team that raised a €2.2bn infrastructure fund, and then as a Partner with Arcus Infrastructure Partners, which completed an MBO from Babcock and Brown in 2009.
Gershon Cohen
Global Head of Infrastructure Funds
Gershon Cohen is Global Head of Infrastructure Funds, abrdn. Gershon’s platform has USD$3bn of institutional capital under management and consists of 7 unlisted funds and associated investment vehicles invested in over 120 greenfield and brownfield infrastructure projects. He is responsible for the management, leadership and development of the concessions infrastructure strategy for abrdn and is a fund principal and chair of investment and associated committees of the platform. The platform operates from offices in London, Edinburgh, Paris, Madrid, Amsterdam, Sydney, Bogota and Bahrain with a team of 32 professional investors and other joint venture partners.
Previously Gershon held the position of CEO SWIP Infrastructure Funds & CEO Lloyds Bank Project Finance Equity and Funds, which involved the origination, investment and management of all infrastructure equity products across the UK, Europe, Australia and Americas. Prior to this, Gershon was Global Head of Lloyds Bank Project Finance. Gershon has played a pivotal role in structuring, arranging and providing innovative funding solutions to a range of ground-breaking PFI/PPP/P3 projects in healthcare, transport, wastewater and education over the last 20 years. Gershon led the fundraising efforts for the current platform. He sits and advises on many trade and governmental committees on infrastructure investment matters; has presented at numerous conferences and seminars; and has written a number of articles on PPP/P3.
Previously Gershon held the position of CEO SWIP Infrastructure Funds & CEO Lloyds Bank Project Finance Equity and Funds, which involved the origination, investment and management of all infrastructure equity products across the UK, Europe, Australia and Americas. Prior to this, Gershon was Global Head of Lloyds Bank Project Finance. Gershon has played a pivotal role in structuring, arranging and providing innovative funding solutions to a range of ground-breaking PFI/PPP/P3 projects in healthcare, transport, wastewater and education over the last 20 years. Gershon led the fundraising efforts for the current platform. He sits and advises on many trade and governmental committees on infrastructure investment matters; has presented at numerous conferences and seminars; and has written a number of articles on PPP/P3.