Deep Thoughts By Leo de Bever

Ashby Monk

Alberta Investment Management Corp. CEO Leo de Bever is one of the most respected investors in the world. He built AIMCo into the world-class institutional investor that it is today. And, lucky for us, he gave Reuters some priceless nuggets of wisdom yesterday that I think earn him a “deep thoughts” post. Without further ado, here is Leo:

On how to make money in global infrastructure markets:

“The only way you’re going to make money is when you identify what we call here opportunities between the cracks — things that don’t look straight down the road as core real estate, or core infrastructure, or core anything,”

On his preference to do infrastructure deals in Latam over Asia:

“I can’t get my mind around investing in infrastructure in China, the chaos in India I don’t quite know how to make sense of…But then we look at Chile and I can figure it out. We’ve also been looking at Brazil.”

On the potential for a private infrastructure market in the USA:

“My guess is that it will take another one or two blackouts before people finally say ‘OK, we get the story. We’re going to have to spend some money there and we’re going to have to make some approvals for capital to go in there’.”

On being an independent investor:

“I’m not very much into testosterone. I will do good deals myself if I can find them and I won’t do them unless the conditions are right.”

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This website is a project of Professor Gordon L. Clark and Dr. Ashby Monk of the School of Geography and the Environment at the University of Oxford. Their research on sovereign wealth funds is funded by the Leverhulme Trust and The Rotman International Centre for Pension Management.

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