Why middle-market infrastructure has a place in every investor’s portfolio

UBS
By February 5, 2020 08:50

Why middle-market infrastructure has a place in every investor’s portfolio

Why middle-market infrastructure has a place in every investor’s portfolio

Can you define what middle market means within private infrastructure?

First of all, the phrase “middle market” is a bit opaque in our industry. In my mind, it involves equity investments up to several hundred million dollars and an enterprise value up to around USD1 billion. However, other people in the industry may give you different numbers and, most likely, something much higher. Even within the middle market, we break it down further into smaller segments. For example, at UBS we define “lower-middle market” as equity check sizes of around USD50 million to USD150 million. Overall, as the sizes of infrastructure funds have increased significantly in the last few years, the definition of middle-market has also increased.

 

UBS
By February 5, 2020 08:50

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