Sawant Infrastructure Investing

Managing Risks & Rewards for Pensions, Insurance Companies & Endowments
1. Auflage 2010
ISBN: 978-0-470-60234-8
Verlag: John Wiley & Sons
Format: EPUB
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 288 Seiten, E-Book

Reihe: Wiley Finance Editions

Invaluable information regarding one of the biggest worldwidegrowth areas in investing-infrastructure assets
Infrastructure investing is about to explode on the worldwidescene. The fact is that real money will need to be spent on realprojects-which will present real opportunities for stable,long-term returns. But infrastructure assets have uniquecharacteristics and the investments and funds that will likely riseup must be suitably structured to serve investor needs.
Author Rajeev Sawant has been analyzing infrastructureinvestments, funds, and project financing programs for nearly fiveyears, and with this book, he presents information that will beinvaluable to lenders, pension funds, insurance companies,investment funds, rating agencies, and even governments.
* Presents comprehensive data analysis on infrastructure casesworldwide
* Analyzes the opportunities as well as the pitfalls ofinfrastructure investing
* Focuses on the needs of pensions, insurance companies, andendowments interested in infrastructure investing
For the next decade, worldwide economic growth and increasedemployment-as well as investment returns-will come frominfrastructure projects. This book will help you understand today'sdynamic infrastructure asset class and quickly get you up to speedon the unique risks and rewards associated with it.

Autoren/Hrsg.

Sawant, Rajeev J.

Inhaltsverzeichnis

Preface.
Acknowledgments.
Chapter 1 Infrastructure Demand and Investment Funds.
An Overview of Infrastructure Demand.
Availability of Funds.
Conclusion.
Chapter 2 Infrastructure Asset Characteristics.
Defining Asset Classes.
Portfolio Perspective to Asset Classification.
Large Upfront Investments.
Strong Cash Flows.
Stable Cash Flows.
Long Life.
Irreversible Investments.
Location Specificity.
Growth Options.
Value under Default.
Conclusion.
Chapter 3 Equity Infrastructure Indexes.
Infrastructure Investment Options.
Equity Infrastructure Indices.
Macquarie Global Infrastructure Index.
S&P Global Infrastructure Index.
CSFB Emerging Markets Infrastructure Index.
Efficient Frontier.
Conclusion.
Chapter 4 Debt versus Equity Mode of Investment.
Theories of Capital Structure.
Pecking Order Theory.
Free Cash Flow Theory.
Trade-off Theory of Capital Structure.
Governance and Capital Structure.
Options Approach.
Private Equity Model of Investing.
Conclusion.
Chapter 5 Infrastructure and the Threat of Holdup.
Transaction Cost Economics.
Solutions for the Holdup Problem.
Conclusion.
Chapter 6 Infrastructure Assets and Political Risk.
Political Risk Typology.
Sovereign Holdup.
Types of Risk.
Hedging Sovereign Hold-up.
Risk Mitigation Strategies.
Conclusion.
Chapter 7 Project Finance and Infrastructure.
Project Finance Structure.
Project Finance versus Corporate Finance.
Ras Laffan Revisited.
Project Risk Analysis.
Credit Rating Agencies.
Using the Project Finance Structure.
Role of Government.
Conclusion.
Chapter 8 Infrastructure Asset Valuation and BondReturns.
An Overview of Infrastructure Valuation Theory.
Basel II and Infrastructure Lending.
Infrastructure Bond Returns.
Conclusion.
Chapter 9 Case Studies.
Case Study 1: Aguas Argentinas S.A.
Case Study 2: Dabhol Power Company.
Conclusion.
Notes.
About the Author.
Index.

Über Autor(innen)

RAJEEV J. SAWANT is a Research Fellow at the Center for Emerging Market Enterprises at the Fletcher School, Tufts University. Prior to this, heconsulted for JSA Partners (an A.T. Kearney spin-off) in international strategic alliances in aerospace and defense. Sawant is a member of the Academy ofManagement and the Financial Management Association, is an Inlaks Shivdasani Foundation scholar, and has served as Aide de Camp to the President of India. He holds a PhD inbusiness strategy and international management.