The Globe and Mail
(From The Globe and Mail) Leo de Bever is one of the godfathers of infrastructure financing, but these days you couldn’t get him to touch the stuff.
“The time to be in infrastructure is not now,” he says point blank. “It’s too expensive, everyone’s in it. Whenever everyone’s in it, you want to back off.”
Infrastructure investments are a hot commodity thanks to the predictable long-term cash flows that they generate. Pension plans, insurers and banks are expanding their burgeoning infrastructure teams and chasing deals such as the Canada Pension Plan Investment Board’s $3.2-billion preliminary offer for Sydney-based toll road operator Intoll Group, whose largest asset is its stake in Highway 407 north of Toronto. Read the full article here.