Brookfield vs GIP
Assuming both focused on core infrastructure (leaning to energy) - what are the relative pros and cons? Does the Blackrock acquisition warrant any concerns starting as an Associate at GIP?
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If you want to focus on traditional energy infrastructure, there are better funds to pursue.
Makes sense - any good names focused on traditional power & utilities? I personally find the regulated businesses the most fascinating hence listed these two
As I am sure you know energy and power are different in this context. GIP, Stonepeak, and Brookfield are all great names in the traditional infrastructure space who may see more of the regulated assets that you reference. Quantum and EnCap are traditional energy funds that will focus on O&G. Energy infra (midstream) assets are becoming less and less investable from a private perspective.
Yes apologies - I used energy interchangeably with power (perhaps it’s a local market thing..) but my focus is on P&U specifically. Appreciate it!
Brookfield infra doesn't focus on energy. they have a transition team for that, which is a different team/fund
I had mistyped and meant utilities moreso - understand this sits in infrastructure vs. BREP? I would assume capital is pooled if it’s a large-scale utility with unregulated generation but correct me if I’m mistaken
Most active regulated utilities investors in the US are MIRA, BX, Brookfield, ADIA, GIC, Canadian pensions.
In Europe it's more of a mix as returns are lower. Again you have MIRA, Ardian, IFM was/is active (50Hertz, Naturgy), long tail of pensions / quasi-pensions (eg USS) owning stakes in local utilities.
Haven't seen GIP much in the regulated utilities space outside of Naturgy, which isn't exactly going well.
GIP just did Allete as well, which I believe was a flagship fund deal. Their core fund has floundered a bit which has probably hampered some of their utility activity.
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