Felicity Gates, one of the most experienced investors in infrastructure assets, argues that while investors are increasingly allocating to the asset class, they need to understand that successful infrastructure investing is complicated, heterogeneous and very, very long term.
In a fascinating conversation with Privcap, Gates, Partner and Co-Head of Citi Infrastructure Investors, discusses why municipal budget woes won’t necessarily spell deal flow, why public private partnerships (PPPs) take so long to complete, how leverage and swaps hurt infrastructure investments in the downturn, where deal flow is coming from today, where investors are finding room in the portfolio to allocate more to infrastructure, separate accounts, and how not to get involved in a “cost of capital shootout.”
View the full video here - http://www.privcap.com/
Felicity Gates' bio:
Partner and Co-Head
Citi Infrastructure Investors (CII)
Since joining CII as founding Co-Head in 2007, Felicity Gates has shared the leadership of the group including fundraising and the acquisition and management of four investments.
Gates has been involved in infrastructure investing and financing since the late 1980s, and began direct investing in infrastructure in 1994 when she joined NSW State Super (a large Australian pension fund) to set up their infrastructure portfolio. Felicity managed State Super’s involvement in several landmark transactions in Australia, including the privatization and subsequent IPO of United Energy (electricity distributor)
Gates currently represents the Fund on the board of Itínere, YVR Airport Services and DP World Australia. She holds a B.Sc. with First Class Honours in Mathematics from the University of Queensland in Brisbane, Australia.