Not all infrastructure is created equal. As private infrastructure becomes more accessible alongside global listed infrastructure, knowing how a manager defines the asset class has never mattered more. On Zenith Investment Partners’ Investment Researcher podcast, Steven Kempler shares the simple test we use to separate true infrastructure from essential services that don’t make the cut, and why regulated energy networks are attracting investment that is largely disconnected from economic cycles. He also explores data centres, take-privates and how listed and private infrastructure can complement each other.