Infrastructure Equity
Disciplined investing in the global infrastructure companies that underpins the Economy
What’s new
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Tariffs, Taxes, President Trump and Transmission
What does this mean for infrastructure equity? -
US Utilities Travel Diary
Joseph Titmus, Managing Principal, Listed Infrastructure Equity, recently travelled to the US to meet with the management teams of our US utilities and visit assets -
Powering AI
The rapid rise of AI is driving demand for large-scale data centres and with it, the considerable power these facilities need.
Who we are
Infrastructure forms the basis of modern society, providing necessary services for the stability and growth of the economy. Naturally resilient, infrastructure assets can generate inflation-linked, long-dated and sustainable earnings growth through the economic cycles.
Listed infrastructure can offer immediate and liquid access to core infrastructure assets and the potentially attractive risk adjusted returns could provide diversification to a balanced portfolio.
Source: HSBC AM, as of 30th September 2025
Cashflow Stability Listed infrastructure companies—like utilities, toll roads, and pipelines—often generate predictable cashflows through regulated or contracted revenues |
Growth from Sectors such as renewable energy, electric mobility, and digital infrastructure offer long-term capital growth opportunities tied to global transformation |
Potential Diversification Infrastructure equities tend to have different risk-return profiles than broad equity markets, adding resilience to multi-asset portfolios |
What sets us apart
Specialist Focus Our dedicated team approaches infrastructure investing with over a decade of experience of experience working together. |
Long-Term Gain exposure to the companies exploiting structural shifts like the energy transition, urbanization, and the expansion of digital infrastructure. |
Potentially Attractive Listed infrastructure has historically shown lower volatility and stronger downside protection compared to broader equity markets potentially supporting portfolio resilience. |
What we do
Communications Infrastructure
Mobile & broadcasting towers
Data centres
Optical
fiber
Satellites
Energy Infrastructure
Oil and gas transport
Midstream
Hydrogen and carbon
capture
Transportation Infrastructure
Airports
Ports
Rail
Toll roads
Utilities Infrastructure
Transmission and distribution
Natural gas
Water and
waste
Power generation
Renewables
The listed infrastructure equity asset class provides access to the
companies that develop, operate, and maintain the essential systems powering
modern life—spanning energy, transportation, and digital connectivity.
By investing in these real assets through public markets, clients can seek
stable cashflows, participate in long-term structural growth, and potentially
enhance diversification across their portfolios"
Head of Listed Real Assets
Leadership
Giuseppe Corona Head of Listed Real Assets |
Andrew Steele Principal |
Andy Jones Managing Principal |
Antonio Barbera Managing Principal |
Claire Zhang Principal |
Jessica Nguy Prinicipal, Listed Real Asset |
Joseph Titmus Managing Principal |
Rory Muldowney Analyst |
Key Risks
- Risk Considerations: There is no assurance that a portfolio will achieve its investment objective or will work under all market conditions. The value of investments may go down as well as up and you may not get back the amount originally invested. Portfolios may be subject to certain additional risks, which should be considered carefully along with their investment objectives and fees.
- Illiquidity: An investment in alternatives is a long term illiquid investment. By their nature, the alternatives’ investments will not generally be exchange traded. These investments will be illiquid.
- Long term horizon: Investors should expect to be locked-in for the full term of the investment
- Economic conditions: The economic cycle and prevailing interest rates will impact the attractiveness of the underlying investments. Economic activity and sentiment also impacts the performance of underlying companies, and will have a direct bearing on the ability of companies to keep up with interest and principal repayments.
- Valuation: These investments may have no or a limited liquid market, and other investments including those in respect of loans and securities of private companies, may be based on estimates which cannot be marked to market until sale. The valuation of the underlying investments is therefore inherently opaque.
- Strategy Risk: Investments into alternatives may, among other risks, be negatively affected by adverse regulatory developments or reform, credit risk and counterparty risk. The credit market bears idiosyncratic risks such as borrower fraud, borrower bankruptcy, prepayment risk, security enforceability risk, subordination risk and lender liability risk.
- Investor’s Capital At Risk: Investors may lose the entirety of invested capital
Contact us
If you are considering investing in alternatives, or want to learn more about our investment strategies, please get in touch.