This paper challenges the assumption that listed infrastructure and unlisted infrastructure are two separate asset classes by analysing examples of actual assets owned by these two distinct investor classes.
BCom, LLB, MFin, CFA
Steven joined Maple-Brown Abbott in 2012 and is co-founder and portfolio manager of global listed infrastructure. Prior to Maple-Brown Abbott, he spent six years in Macquarie’s Global Listed Infrastructure team as an investment analyst covering infrastructure and utilities in the Asia Pacific region. He was later appointed as a joint Portfolio Manager for Macquarie’s Emerging Market Listed Infrastructure strategy. Prior to joining Macquarie, Steven worked briefly within Rothschild’s investment banking division in London, specifically on debt and mezzanine private placement transactions. Steven is an airports expert and is responsible for the coverage of the team’s airport investments around the globe, the transportation infrastructure and communication infrastructure assets.
Steven joined Maple-Brown Abbott in 2012 and is co-founder and portfolio manager of global listed infrastructure. Prior to Maple-Brown Abbott, he spent six years in Macquarie’s Global Listed Infrastructure team as an investment analyst covering infrastructure and utilities in the Asia Pacific region. He was later appointed as a joint Portfolio Manager for Macquarie’s Emerging Market Listed Infrastructure strategy. Prior to joining Macquarie, Steven worked briefly within Rothschild’s investment banking division in London, specifically on debt and mezzanine private placement transactions. Steven is an airports expert and is responsible for the coverage of the team’s airport investments around the globe, the transportation infrastructure and communication infrastructure assets.
Board and committee membership:
Maple-Brown Abbott Global Listed Infrastructure Pty Limited
Steven
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Data Centers – are they infrastructure?
The Maple-Brown Abbott Global Listed Infrastructure (GLI) team has long held that data center companies do not exhibit the requisite “core” characteristics of infrastructure, namely due to lower barriers to entry, higher competition and typically shorter contract lengths relative to other “core” sectors. We believe data centers offer inadequate inflation protection, higher cash flow volatility, and better align with real estate or "core-plus" infrastructure rather than core infrastructure.
