Infrastructure Funds – the Way Forward
Commerz Real AG has successfully launched its first infrastructure fund for institutional investors. Together with a group of investors from the insurance and superannuation sectors, Commerz Real acquired a majority in RWE’s transmission grid operator Amprion. It is the first time that institutional investors have the option to use this kind of fund construction to access the stable cash flow from infrastructure networks.
In line with the energy policy shift now under way in Germany, high-quality power transmission attains increasing significance. The further expansion of renewable energy, particularly in the off-shore wind turbine segment, will entail significant investments in these networks, because the volume of wind-generated power that has to be transported to conurbations will keep increasing. The “infrastructure” asset class therefore represents a rather attractive investment opportunity for institutional investors that offers above-average yield prospects and low exposure (due e.g. to independence from exchange rates) in addition to a large-scale growth potential.
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