Infrastructure
Free CFA Level III: Private Markets lesson in Infrastructure. 23 min read, ~3,435 words.
Three revenue regimes: regulated (allowed return on rate base), contracted (fixed-price or availability payment over 20-30 years), and merchant (market-priced, demand risk). Risk segments: core (operating, contracted, 6-9% IRR), core-plus (8-12%), value-add (12-15%), opportunistic/greenfield (15%+ with construction risk). Vehicles: direct, listed (utilities, YieldCos), unlisted closed-end (10-12 year), open-end core, and...
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What this lesson covers
- Content
- Example 1
- Example 2
- Common Mistakes
- Key Takeaways
- Exam Shortcuts
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