Global Listed Infrastructure

Investment Approach

We believe the appropriate universe for global listed infrastructure consists of owner/operator companies within the communications, utilities, energy, and transportation sectors.
Our investment strategy is focused on core and value-added infrastructure with the objectives of low-risk, moderate growth, and above average income relative to the broader market.
We seek companies that provide the following financial characteristics: revenue with low variability, stable and predictable cash flow, above average dividend payout, and some inflation protection.
We do not view social services (prisons, schools, and hospitals) as an appropriate infrastructure sector. Further, we do not view companies that specialize in infrastructure design, development, engineering, manufacturing, or construction, appropriate for infrastructure investing. Generally, these companies exhibit revenue that can be highly variable and short-term in nature.