1. Defining Infrastructure. 2. What We Learn from History. 3. Who Owns Infrastructure. 4. Addressing the Infrastructure Gap. 5. Challenges in Moving Forward. 6. The Appeal of Real Assets. 7. Investing in Infrastructure. 8. Infrastructure as Business. 9. Elements of the Business Model. 10. Infrastructure Business Models. 11. The Global Market for Infrastructure Investments. 12. The Flow of Infrastructure Capital. 13. Perspectives on the Investment Industry. 14. Public Finance Challenges. 15. What is Sustainable Infrastructure. 16. Global Landscape of Climate Finance. 17. ESG and Responsible Investing. 18. Greenfield Project. 19. Challenges in Project Delivery. 20. Investing in Emerging and Frontier Economies. 21. Financing Infrastructure in Developing Countries. 22. Non-tangible Infrastructure Assets. 23. The Need for Creativity and Innovation. 24. Conclusion. Now and into the Future
Professor Emeritus James McKellar, Brookfield Centre in Real Estate and Infrastructure, Schulich School of Business, York University, was Associate Dean, External Relations and former Director of the Brookfield Centre. Prior to joining York University, he was a faculty member at the Massachusetts Institute of Technology (MIT) and served as the first Director of the Center for Real Estate at MIT. In addition to MIT, he held faculty appointments at the University of Pennsylvania and the University of Calgary.
Professor McKellar has a life‐long involvement in the real estate industry and has consulted to businesses and governments in many parts of the world on real estate matters covering housing, development, finance and investment, asset management, and market performance. His recent work focuses on infrastructure in the context of private investment, rapid urbanization, population growth, and sustainable infrastructure, particularly in emerging economies where new technologies, new business models and socio-cultural factors play a significant role. He is actively involved in the Sustainable Infrastructure Fellowship Program announced in June 2018 to coincide with the G7 held at Quebec City, Canada. He has been involved in strategic issues related to real estate and infrastructure in both the private and public sectors. As principal of McKellar Associates Ltd., he specialized in strategic issues related to real estate and infrastructure.
"Infrastructure is perhaps the fastest growing asset class, but it
remains relatively immature and poorly understood. This book
provides valuable insights into evolution of the asset class, the
perspectives of the main stakeholders and the opportunities and
challenges for the future. Over the past 15 years, Infrastructure
has emerged as an important asset class for institutional
investors. Despite this, the asset class remains relatively
immature with many aspects poorly understood. In this context this
book provides valuable insights into infrastructure investing, from
the perspectives of investors, governments and, most critical of
all, the users and beneficiaries of the asset class"Dr Peter
HobbsManaging Director, Head of Private Marketsbfinance"James’ book
is a valuable contribution to the growing literature on
infrastructure businesses. Successfully utilizing private capital
is an imperative for governments looking to build and maintain
their evolving infrastructure needs and this book enriches our
understanding of what the private sector seeks out when assessing
infrastructure investments. Public stakeholders, students, industry
professionals and anyone else keen for infrastructure will enjoy
reading this book."Aaron Vale, CFA, CAIA
Managing Director, Co-Head of Indirect InfrastructureCBRE
Investment Management"Given the growing realisation that the
quality of infrastructure is absolutely key to every country’s
aspirations, James McKellar’s work is not only timely but also spot
on: just as much as there is an ‘infrastructure gap’, there is a
‘knowledge gap’ between the public and private on how to
successfully prepare, procure, fund, finance, operate and maintain
the type of future-ready infrastructure people expect. McKellar’s
work makes great strides in helping to close that gap."Matthew
Jordan-TankDirector, Sustainable Infrastructure Policy and Project
Preparation, European Bank for Reconstruction and Development
(EBRD)"James’ perspective on the flow of capital into
infrastructure is both refreshing and needed. Understanding how to
access private sector creativity and risk-taking is crucial to
addressing the most vexing problems in infrastructure today. The
challenge to the public sector is to find ways to harness the
natural profit-seeking motivation of the private sector in the
service of the public interest. The potential exists cross the
globe and the returns to both the public and private sector can be
immense and simultaneous." Stephen C. BeattyGlobal Chairman
(Non-Exec), Infrastructure and Chairman, Global Cities Center of
ExcellenceKPMG in Canada
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