Dear PPI Members:
PPI Is pleased to share a membership invitation from the Long Term Infrastructure Investors Association (LTIIA).
The LTIIA was established in 2014 with the strong support of two PPI members, Campbell Lutyens and Meridiam Infrastructure. Based in Paris, LTIIA currently includes investors who collectively manage in excess of $5 trillion in assets including some of the most active investors globally in the field of long-term investment in infrastructure.
The purpose of the LTIIA is to bring greater transparency and cohesion to the infrastructure investment marketplace, through standardization, benchmarking and education. The association is also designed to influence governments and regulators as they develop policies and practices and to ensure that the united voice of private sector infrastructure investors is clearly and coherently heard.
The LTIIA is offering PPI members a privileged financial basis of membership and engagement. Institutional investor members of PPI may join the LTIIA free of charge and corporate members may join at half the normal fees for the first 3 years. The LTIIA regular membership fee at this time ranges between $4,500 and $16,500 per annum depending on the member profile and scale.
Currently, the work of the LTIIA is particularly focused on three areas of activity:
First, the development of benchmarking of long term infrastructure performance, a project which seeks to identify the true risk-return profile of various infrastructure assets for long term investors. This enables CIOs, trustees, asset allocators, asset liability managers and the specialist teams charged with investing in infrastructure assets to support their investment and portfolio construction decisions with relevant and robust data series that provide global coverage. The platform, operated by EDHEC Infrastructure Institute in Singapore, already comprises more than 500 assets from 11 countries and 19 sectors.
Second, the LTIIA is working to promote excellence in ESG practice in the specific area of infrastructure investing, an asset class which is physically embedded in the day to day life of the population of countries worldwide. Effective partnerships between the public and the private sector must therefore be seen to be Environmentally sensible, Socially embedded and fairly Governed. Last December at COP21 in Paris the Association presented its ESG Handbook for Long Term Investors in Infrastructure, and this year LTIIA Climate Task Force is working with several governments to help them develop investment components of their carbon reduction commitments, ahead of COP22.
Third, the LTIIA is promoting, in part through its benchmarking work, the reduction of barriers to the flows of capital into the infrastructure class. The research and benchmarking data facilitated by LTIIA helped shaping Solvency II legislation over the last twelve months, leading to infrastructure being recognized as a distinct asset class for the first time.
Any PPI member who wishes to put its most appropriate representative in touch with the LTIIA – for example head of infrastructure, head of asset liability management or portfolio strategy, trustees etc. – is now invited to do so.
John Campbell of Campbell Lutyens and Thierry Déau of Meridiam would be happy to speak to individual members, as would Eugene Zhuchenko, the Executive Director of LTIIA, whose emails are respectively firstname.lastname@example.org, email@example.com and firstname.lastname@example.org. CalSTRS and Development Bank of Japan, among the PPI membership, are already members of LTIIA. LTIIA would greatly welcome the wider involvement of other PPI members – whether asset owners, asset managers or advisers – in this important initiative to assist through infrastructure investment, an acceleration of economic growth and social development worldwide.
Lionel C. Johnson