Focus and Agenda
Event Focus for 2017
Investing in an age of disruption
The conclusion of the US presidential race will leave the market with a number of questions. After eight years of increasing diversification in terms of infrastructure investment, it is unclear what comes next.
The new president will undoubtably have to address the state of the country’s infrastructure, as it has become a primary concern among voters. But the degree to which investors will be able to participate in the development and expansion of projects remains to be seen.
What is clear is that, despite what happens at the federal level, the market will continue to be robust. Infrastructure funds still have to divest assets as they come to the end of their lifecycles. Moreover, North American transportation assets can still command high prices, as there evinced by the Pocahontas Parkway and Dulles Greenway deals.
Low oil and gas prices show no sign of abating, and opportunities to acquire assets from or partner with players in the energy sector - particularly MLPs -still abound. Moreover, clean energy initiatives in states such as California and New York, as well as Canadian provinces such as Ontario, remain in place suggesting that the procurement of large renewable projects will continue apace.
The US president will have a hand in shaping the North American market for years to come, but the progress that has already been made - coupled with increased attention to infrastructure among state and municipal elected officials - strongly suggest that the market will continue to develop and, ultimately, thrive.
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