Staff
Canada’s largest pension funds are walking away from more and more global infrastructure deals, saying that competition for assets has driven valuations too far, according to an article in The Globe and Mail.
It says senior executives at these large pension funds defend the merits of past infrastructure deals, which have become more and more common since the financial crisis in 2008.
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They also told The Globe and Mail that they are worried prices no longer reflect the illiquidity of the assets, which can’t be sold quickly like stocks or bonds.