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Infrastructure Investors Survey 2013 Infographic

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As funds emerge stronger from the economic downturn and direct investors firmly establish themselves in the market, the outlook for the infrastructure investors sector is markedly different from our last survey, when some questioned whether the infrastructure fund model would even last. So how has the sector changed, and in the midst of rising competition and a dynamic risk environment, how is it likely to evolve going forward?

Infrastructure Investors Survey 2013 Infographic

  1. 1. DELOITTE INFRASTRUCTURE INVESTORS SURVEY 2013 WHERE NEXT ON THE ROAD AHEAD? The third edition in this series provides an incisive and comprehensive analysis of the infrastructure investors sector today, and predictions going forward. The only study of its kind explores the major trends and drivers across performance, the changing landscape and how funds are responding in this increasingly competitive marketplace. STRONGER & WISER RESILIENT THROUGH THE ECONOMIC DOWNTURN 7 % OF INVESTORS’ PORTFOLIOS ARE NOW ACHIEVING OR EXCEEDING TARGET IRRS GREATER FOCUS ON ASSET MANAGEMENT THIS STRONG PERFORMANCE REFLECTS AN INCREASING FOCUS ON ASSET MANAGEMENT TO DELIVER RETURNS 41% OF INVESTORS HAVE RECRUITED DEDICATED ASSET MANAGEMENT TEAMS, WHICH ON AVERAGE NOW COMPRISE JUST OVER A THIRD OF THEIR TOTAL WORKFORCE ASSET PERFORMANCE Which sub-classes are expected to deliver the highest returns? 16 14 12 Average target IRR 10 8 6 4 2 0 Infrastructure services Airports Ports Telecoms Waste Other Rail/metro transport Roads Renewables Water Other regulated utilities PPP/PFI THE RISE OF DIRECT INVESTORS Contrary to expectations, direct investors have firmly established themselves in the market over the last two years. WHO DO LARGE FUNDS NOW SEE AS THEIR PRINCIPAL COMPETITION? 44% 31% DIRECT INVESTORS 25% OTHER INFRASTRUCTURE FUNDS TRADE BUYERS WHAT IS KEEPING INVESTORS AWAKE AT NIGHT? 8% REGULATORY 35% 8% TAX REFINANCING 20% 29% POLITICAL BUSINESS/OPERATIONAL RISK EXTERNAL RISKS CONCENTRATING INVESTMENT ON CORE MARKETS Over the next two years, the focus for the majority of investors will largely be on core infrastructure assets in these ‘safe haven’ geographies, in particular Western Europe. There is also an increasing appetite to invest outside of Europe, with the exception of India and China, which have become less attractive as their economies have slowed. EXITS AHEAD Average number of assets that investors are considering exiting Investment realisations have been scarce in recent years, but the number of assets that funds will be exiting is set to pick up significantly in the short to medium term. 0 0.5 Next Year 2-3 Years 5-7 Years 1.0 1.5 2.0 2.5 3.0 For more insight and analysis on the state of the infrastructure investors sector, download the full report. www.deloitte.co.uk/infrastructureinvestors