24
Apr
Infrastructure allocations - institutional investor insights
This year is expected to bring recovery in the M&A market and better exit and fundraising opportunities. LPs continue to seek infrastructure exposure, drawn by the asset class’s inflation-resistant returns — and it is expected that the pace of investments is set to accelerate due to a growth in target allocations, although LPs are writing fewer checks and focusing on prioritizing existing managers. Our panel of leading regional allocators will discuss where they are putting their money in the year ahead, discuss their approaches towards manager selection and portfolio construction, and where they are finding the best opportunities in the infrastructure asset class in 2025.
- How are LPs allocating capital across core, core plus, value add and opportunistic investments?
- What are some of the top sub-sectors LPs are looking into?
- Direct investment into projects - how attractive is infrastructure investing compared to other asset classes?
- What are the opportunities to reinvest capital through alternative investment vehicles such as co-investments and secondaries?
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SpeakersOnofrio Castiglia Reporter Infralogic
Damien Mitchell Senior Investment Manager AustralianSuper
Zaman Velji Senior Managing Director, Infrastructure & Renewable Resources BCI
Niraj Agarwal Head of Real Assets New Jersey Division of Investment
Petya Nikolova Deputy CIO and Head of Infrastructure Investments New York City Comptroller's Office
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A senior reporter on the Infralogic Americas team, Onofrio Castiglia covers power and energy in North America from offices in Houston, delivering proprietary information on M&A, project finance and fundraising. A veteran reporter, Onofrio previously covered industrials for sister publication Mergermarket and was before that a national political reporter for Ogden Newspapers for six years.
Damien joined AustralianSuper in July 2024 as a Senior Investment Director, Real Assets Americas, where he is responsible for energy transition and transportation investments. With more than 25 years’ experience in infrastructure investment management and advisory, Damien was previously at CIM where he was First Vice President based in Los Angeles with a focus on energy transition and transportation. Prior to CIM, Damien was a Partner at Stepstone Global where he led direct investment activities primarily in renewable energy.
Zaman is a Senior Managing Director at BCI, with its Infrastructure & Renewable Resources investing team. He leads Asset Management for a portfolio spanning over forty direct investments globally. He serves on its Investment Committee and spearheads various initiatives including coverage of Asian markets.
Prior to joining BCI, Zaman worked as a consultant with McKinsey & Company, and previously with the Aga Khan Development Network. In addition to the CFA, Zaman has an MBA in Finance from The Wharton School of the University of Pennsylvania, and undergraduate degrees in engineering and in government from Cornell University.
Niraj Agarwal is the Head of Real Assets at the c. $100 billion New Jersey Division of Investment and also serves on the pension fund’s Asset Allocation committee. Niraj runs investment programs focused on private equity across infrastructure, real estate, natural resources, agriculture and other real assets, and invests via commingled funds, co-investments/secondaries and programmatic separate accounts. He serves on a number of Boards and is responsible for launching investments into Infrastructure and Energy Transition/Renewables for the pension which account for over $2 billion of new capital deployment. Prior to NJ, Niraj was a Portfolio Manager in the Real Assets team at the c. $500 billion CalPERS pension, where he built the infrastructure portfolio from c. $2 billion to c. $6 billion via directs, funds, co-investments and separate accounts, and also built the renewables investment program to c. 2GW of operating wind and solar. Prior to CalPERS, Niraj was an investment banker in NY where he closed over $13 billion of transactions across sectors.