Real asset?

I’ve been writing here about the emergence of infrastructure and the expected pressures to integrate it into the real estate curriculum.  We’re starting to see its emergence start to produce academic texts.   Edhec Business School, and specifically the Edhec Infrastructure Institute, have been producing high profile output in this area.  They had an interesting article in the FT this week.   A couple of academics from there have published a noteworthy book on infrastructure valuation.  You can check it out here.  It looks like a fairly heavy duty but interesting corporate finance approach to valuing the equity and debt cash flows that infrastructure projects generate and costs nearly £250.   I hadn’t seen it before but I did expect that, like real estate, we would see many of the same types of sub-disciplines.   The publisher of infrastructure valuation (a specialist in private equity topics)  also have other tombs Best Practice in Infrastructure Asset Management and, with a revealing large focus on regulation, Managing Risks in Infrastructure Investments.   All cost a lot.  Possibly better value – but with a different focus is Infrastructure as an Asset Class: Investment Strategies, Project Finance and PPP by Barbara Weber and Hans Wilhelm Alfen.   Sign of the shift?  One of my colleagues at Reading (school of Real Estate and Planning) has just left us to go to UCL to work on infrastructure in the School of Construction and Project Management .

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