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Infrastructure Valuation

£329.00

Key Information

  • ISBN: 978-1-908-783-77-6
  • Publication Date: March 2015
  • Number of Pages: 256

Written by Frédéric Blanc-Brude and Majid Hasan of the EDHEC-Risk Institute, Infrastructure Valuation is a practical guide that details the valuation of privately held infrastructure equity and debt

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A guide to the valuation of privately held infrastructure equity and debt

Investors considering investing in infrastructure need to form return and risk expectations to make allocation decisions. Written by Frédéric Blanc-Brude and Majid Hasan of the EDHEC-Risk Institute, Infrastructure Investor’s Infrastructure Valuation guide develops asset valuation methodologies and data collection templates that aim to contribute to the effective benchmarking of privately held infrastructure debt and equity. Download a free extract

Key benefits of the book:

  • Identifies the important dimensions of a very ill-defined and little understood topic (infrastructure investment).
  • Details the challenges faced by investors (with regards to valuation and risk measurement) and proposes a way forward.
  • Demonstrates two academically validated asset-pricing models (one for debt, one for equity) that have been developed with practical and industrial implementation in mind.
  • Explains what data should be collected in order to be able to run these models….plus much more

Who should read this book?

Investors engaging or beginning to engage with the subject of infrastructure investment, including pensions funds, insurance companies and sovereign wealth funds.
Asset managers, especially those that are specialised in infrastructure investment

TABLE OF CONTENTS:

Part I: Understanding privately held infrastructure investments

- The nature of investable infrastructure

- Infrastructure project financing

- Risk and the cost of capital in infrastructure projects

Part II: Issues with long-term investment performance measures

- Benchmarking infrastructure investments: objectives and challenges

- Addressing the challenges of long-term investment benchmarking

Part III: Measuring the performance of infrastructure project debt

- Objectives and characteristics of infrastructure project debt

- Approaching the valuation of infrastructure debt

- Valuation framework

- Debt restructuring model

- Model implementation

Part IV: Valuing equity investments in infrastructure projects

- Objectives and approaches

- Expected dividend model

- Valuation framework

- Observation (pricing) equation

- State (discounting) equation

- Filtering of the term structure

- Model implementation

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