Infra PE in SG

The infrastructure private equity (Infra PE) space in Singapore (SG) and Southeast Asia (SEA) is indeed unique and presents both opportunities and challenges. Here's what you need to know:

Infra PE Landscape in Singapore/SEA

1. Asset Focus:

   • Power assets and digital infrastructure are indeed key areas of focus in SEA. These sectors often require significant sponsor involvement due to their capital-intensive nature and the need for operational expertise.
   • Other active sectors include toll roads, airports, and data centers, which align with the broader definition of infrastructure.

2. Market Dynamics:

   • The SEA market is primarily headquartered in Singapore, with Indonesia contributing significantly (30-40%) as the largest economy in the region.
   • Deal sourcing in SEA is heavily relationship-driven, unlike the auction-heavy processes seen in the US/EU. This is particularly true for infrastructure assets, where local market knowledge and connections are critical.

3. Challenges:

   • The market is still emerging, with infrastructure IRRs in Asia (ex-Japan) not far from traditional PE.
   • Limited supply of high-quality deals, as infrastructure assets are not created as rapidly as other sectors like tech startups.

Recruiting for Junior Infra PE Roles in SG

1. Feasibility:

   • With a BB background and relevant sector experience (e.g., ANZ), you are well-positioned for junior infra PE roles in SG. Many funds value candidates with strong technical skills and sector expertise.
   • However, the infra PE space in SG is relatively lean, and many funds are in early stages, which means fewer roles compared to more developed markets.

2. Trends:

   • Infrastructure funds in the region often promote from within and may not have structured "two-and-out" programs. This could mean fewer entry points but better long-term growth opportunities.
   • Institutional investors (e.g., Canadian pension plans) are increasingly going direct, which could open up roles in their investment teams.

3. Advice:

   • Highlight your sector expertise and any relevant deal experience in your applications.
   • Networking is crucial in this relationship-driven market. Building connections with local players and recruiters in SG will significantly improve your chances.

In summary, while the infra PE space in SG is competitive and relatively niche, your background positions you well for opportunities. Focus on leveraging your sector expertise and building relationships within the local market to navigate the recruitment process effectively.

Sources: Q&A: Megafund Asia Private Equity, Overview of Infrastructure Private Equity, Overview of Infrastructure Private Equity, Interviewing For Infrastructure Investment Roles