Infrastructure Spotlight: January 2012
By: Preqin Published: January 2012 Abstract: The amount of capital raised by infrastructure funds closing in 2011 totalled around half the amount raised in 2010 by funds closing, halting the growth the...
View ArticleCrumbled Portfolios Look to Rebuild with Infrastructure Investments
Infrastructure is a perpetual investment, whether it's rebuilding old, existing underpinnings in developed markets or building the foundations that turn an emerging nation into a developing one. Preqin...
View ArticlePension Funds and Blair’s PFI Legacy
Britain’s Private Finance Initiative has continued through the administrations since Blair’s, and indeed has inspired emulation across the Channel. At the same time, it has stirred up a good deal of...
View ArticleMore than $3 Trillion AUM for Top 100 Alternative Investment Managers
The survey also asked that the asset managers state where their total assets are invested, using four geographical categories: Europe; Central/North America; Asia Pacific; Other. Commodity funds were...
View ArticleInvesting in Britain’s Infrastructure: With and Without Guarantees
The bottom line of EDHEC's study is that there is no need to create new public sector liabilities to get private sector institutions to invest in infrastructure. Read More
View ArticleSqueezed Margins and a Move to the Clouds
The world of cash equities trading is changing and will continue to change, says Celent. Brokerages will have to outsource in order to reduce costs and restore their margins: and some of the...
View ArticleEDHEC: Investors Who Don’t Want to be Mushrooms Need Benchmarks
Investors need benchmarks, especially benchmarks of likely infrastructure return, because the long-term illiquid nature of that investment increases information asymmetry between investors and...
View ArticleIsn’t all Software Abstract?: A Meditation on Alice Corp.
Justice Thomas writes, "Deciding whether or not a particular claim is abstract can feel subjective and unsystematic, and the debate often trends toward the metaphysical, littered with unhelpful...
View ArticleAdvancing the Infrastructure Investment Narrative
Intuitively, the problem with valuing the debt issued by an private SPE in an illiquid infrastructure project is this: the free cash flows of the SPE aren't easily observed. So how does one go about...
View ArticleCustodians Helping Customers with Securities as Collateral
How address issues of supply/demand imbalance in the world of collateral requirements? Custodians can do a good deal on behalf of their customers here, and are exploring just how much. Read More
View ArticleThe Building of an Infrastructure for Renewables: A Report
In 2012, [as the crude oil price was settling in to $110 and low vol,] the renewables’ infrastructure space for private funds reached an aggregate estimated deal value of $132 billion. In 2013, that...
View ArticleCrowdfunding: In the Gun Sights of Patent Plaintiffs
The first of the three patents cited by the plaintiffs was filed at a time when the crowdfunding exemption movement was making a fair amount of noise on Capitol Hill, though it had not yet had tangible...
View ArticleDown Memory Lane: That WTI-Brent Divergence
For one professor, the surprising divergence in the prices of WTI/Brent crude in the period 2010-2012 was a case study in how commodity prices can teach us about supply chain conditions. Faille looks...
View ArticleLong-Term Infrastructure Debt: The Valuation Issue
Three authors at EDHEC propose a two-step modeling process for the valuation of certain infrastructure debt. One of the key ideas they incorporate is the value of the step-in rights that come when the...
View ArticleGazelles, Exports, and Infrastructure: A View from the UK
The Confederation of British Industry has taken a look at some of the issues that do and should concern investors in the industries of those islands. Among much else, the CBI wants the government to...
View ArticleAleynikov’s Trial and My Cousin Vinnie
A party seeking to employ an expert witness is supposed to let the other side know who the expert is in advance of trial. Fans of a classic Joe Pesci movie will remember that it isn't necessary to join...
View ArticleSome Assets are Hard to Ignore
Guest columnist Diane Harrison looks at the world of alternatives to alternatives, including stamps, cars, farmland and more...Read More
View ArticleWhat’s in a Copyright? Java API Case Before U.S. Supreme Court
High-stakes litigation between Google and Oracle approaches its resolution at the Supreme Court. For seekers of alpha, this isn't just about what investments to make, but about the way one goes about...
View ArticleFarm Land: The Risks & Rewards of Buying Direct
Guest columnist Andrew Smith, CAIA, examines the risks and rewards of investing directly in farmland.Read More
View ArticleJava IP War: The Obama Administration Picks the Wrong Side
The Solicitor General, speaking for the United States, has filed the expected amicus brief in the Google/Oracle showdown. The SG's position is that the Supreme Court should refuse to hear the case so...
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