Infrastructure Investment Banking 2020

Associate covering infra here.

Top banks in specifically core Infra excluding midstream, data centres etc are Evercore, Macquarie, PJ Solomon, RBC. (Top rainmakers historically on the street were Tim Bath, David Utz, and Mark Williamson)

Best source for news is typically Inframation though it's not free.

In terms of comp it depends on where you go, i.e if you work for CIBC who is great in Canada infra but is having trouble growing in the US and has non-capital market issues then you'll see some problems vs if you go to Evercore then you get above street. But just expect typical banker comp.

Exit opps are typically infra specific PE fund (IFM, GIP, Brookfield etc), infra arm of a traditional PE fund (Blackstone, Oaktree, Carlyle etc), Pension fund infra PE arm, infra debt fund, other groups in the bank

For interview questions really depends on the person having a good idea of why you want to work in infra is usually good (hard to find kids who love toll roads vs tech). Other then that just knowing what levers you can typically pull in a DCF in depth is important and how you would actually value say a 20 year concession contract to operate a toll road. Other then that just don't be too cocky, we know schools don't typically teach you how to value infrastructure/project finance so at least I wouldn't expect too much but at the same time I'm just making sure you pass the airplane test.