Our approach to infrastructure investing
Our dedicated and experienced origination team source high-quality infrastructure projects spanning debt and equity, with a focus on stable, long-term income generation. Environmental, social and governance (ESG) considerations are integrated into our origination process and ongoing management of projects. Where relevant, ESG factors are binding objectives of certain strategies and client mandates.
Benefits
Scale and reach
We are direct investors in infrastructure, utilising our extensive network to source opportunities. As one of the largest non-bank lenders in Europe , our reputation as a trusted counterparty in European infrastructure provides access to a wide range of opportunities. We utilise our in-house expertise together with specialist platforms to create long-term pipeline and scale.
Diversification and inflation hedging
We combine proprietary research with sector and industry expertise to originate and structure transactions. We focus on delivering appropriate risk-adjusted returns from infrastructure where favourable supply and demand dynamics support the role of private investment. Rigorous relative value analysis is an essential part of our portfolio construction process.
Supporting the climate transition
As a leader in sustainable real assets, infrastructure has a critical role to play in achieving our 2040 net-zero ambition, particularly through the avoidance of carbon emissions in green infrastructure. Our investment capabilities include solutions that support the climate transition. We actively measure and manage carbon emissions that are avoided, reduced or removed, as an integral part of our investment process.
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Why infrastructure investors better beat beta: End of cheap-money era brings risks and opportunities
Benign macroeconomic conditions have boosted infrastructure investments over the past decade. But with higher interest rates, investors in the asset class will have to show they can create true value, says Darryl Murphy.
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Plug in and power up: How EV-charging infrastructure can help future-proof real assets portfolios
As the transition away from petrol-powered cars to electric vehicles accelerates, demand for charging points is rising. We explore the implications for investors in real assets.
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Why are we waiting? Time for UK infrastructure to pick up pace
After a slow start to the year, Darryl Murphy ponders what it will take to get the UK infrastructure market moving again.
Key risks of infrastructure investing
Valuation risk
Where funds or mandates are invested in real assets such as infrastructure, investments may not be able to be sold, realised or liquidated when you want because the infrastructure assets may not always be readily saleable. If this is the case, we may defer your request or instruction regarding your investment. Investors should also bear in mind that the valuation of real assets such as infrastructure is generally a matter of valuers’ opinion rather than fact.
Strategies in focus
Need more information?
For further information, please contact our investment sales team.
Infrastructure team
Darryl Murphy
Managing Director, Infrastructure
Florent del Picchia
Head of Euro Infrastructure Debt
Explore our real assets range
Real Assets Study 2024
Demand remains strong, but the investment drivers are changing. At a time of macroeconomic uncertainty, real assets continue to play a significant role in the investment strategies of global institutions. The sixth edition of the Aviva Investors Real Assets Study is our biggest yet and seeks to answer some key questions.
Real assets views
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Real Assets
Illiquidity premia in private debt: Q4 2023
12 Mar. 2024
In our latest real assets deep dive, our research team crunches the data to see how evolving macro conditions are reflected in private debt returns.
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Real Assets
Des res: Opportunities in rental housing for institutional investors
25 Jan. 2024
Jonathan Bayfield examines the fundamentals of this asset class, as well as the opportunities and risks for real-estate investors.
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Responsible Investing
Common ground: Earning a social licence to operate in real asset investing
18 Jan. 2024
Successful real asset investing requires acceptance of asset managers’ practices and procedures from a variety of stakeholders. We explore what this means for managers, their clients and investment outcomes.
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Pensions
Plus ça change…The outlook for infrastructure debt in 2024
11 Jan. 2024
Infrastructure demonstrated characteristic resilience in 2023 in the face of significant macroeconomic headwinds. Darryl Murphy from our infrastructure team explains why he expects current themes to persist in 2024.
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Real Assets
Tech, trees and tailwinds: The outlook for climate transition real assets
9 Jan. 2024
In this Q&A, James Tarry and Luke Layfield explore the themes shaping the landscape for real asset investors with a climate transition focus.
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Responsible Investing
Changing course: Creating a stable investment framework for offshore wind
30 Nov. 2023
Better market mechanisms and grid connection arrangements are essential to restore a stable investment environment in the offshore wind sector, as Nick Molho explains.
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Real Assets
Illiquidity premia in real assets: Q3 2023
17 Nov. 2023
Our real assets research team crunch the data to see how evolving macro conditions are reflected in private market returns.
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Real Assets
It’s time to think about nature: Biodiversity and real estate funding
1 Nov. 2023
Although the consideration of biodiversity risks remains limited for most assets so far, their longer-term impact is undeniable and needs to be considered when funding real estate.
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Real Assets
Against the current: Seeking resilience in real estate equity
19 Oct. 2023
A broad-based recovery in UK and European real estate looks unlikely in 2023, but discerning investors can still find value, say Imogen Ebbs and George Fraser-Harding.
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Real Assets
Rates, repricing and relative value: The outlook for multi-asset real assets
11 Oct. 2023
James Tarry and Luke Layfield from our multi-asset real assets portfolio management team discuss the outlook for real estate and infrastructure and how shifts in UK climate policy may affect the push for net zero.
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Real Assets
As one door closes… How changes in long income are creating value opportunities
3 Oct. 2023
Renos Booth, Isabel Gossling and Kris McPhail from our real estate long income team discuss the importance of selectivity to uncover opportunities and how new buyers can fill the void left by DB pension schemes.
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Real Assets
Relative value in real assets: Q2 2023
14 Sep. 2023
Our real assets research team drill into proprietary data to compare risk and return across sectors, drawing out those showing most relative value.
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Responsible Investing
Deals delayed and crowded trades…But investors can still find value in infrastructure debt
4 Sep. 2023
Private infrastructure debt still offers a broad spectrum of opportunities, but investors face complex challenges. In this Q&A, our infrastructure debt team contemplate the current state of the market and where it goes from here.
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Equities
Tipping points and transformation: Getting on the right side of change
16 Aug. 2023
Rapid changes in the global economy could tip some sectors into low-carbon phases faster than incumbents expect, with important investment implications.
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Real Assets
Breaking ground: Opportunities in life-sciences real estate
3 Aug. 2023
In this article, we look at the strong fundamentals of this emerging asset class, as well as the opportunities and challenges for investors.
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Responsible Investing
Methane: Heating up
25 Jul. 2023
Methane is the second most important gas contributor to climate change after carbon dioxide, but its warming potential is many times greater. Mikhaila Crosby explains why addressing emissions is a key priority.