Alternative assets valuation and valuation oversight: infrastructure
The infrastructure sector sits at a collision point of global disruptions, including shifts in capital availability, evolving social and environmental priorities, and rapid urbanisation. Additionally, it has been proved that some profiles of infrastructures (green energy or utilities transportation) present more financial and operational resilience than general investments during periods of uncertainty like the COVID pandemic, increasing the appeal for this profile of investments among institutional investors who use them as a potential source of risk diversification.
The pressing global need for substantial infrastructure is widely recognised. The challenge is not just to fund the massive investment required and target it at the right infrastructure projects but also to provide the required infrastructure on an affordable, socially equitable and environmentally sustainable basis.
Therefore, there is an emerging need for developing knowledge and critical thinking within the investors community in order to narrow the gap between funding availability and the market opportunities in the infrastructure sub-sectors.
This module is part of our Alternative assets valuation training curriculum.
Duration: 3h
Language: Available in English
Number of participants: up to 15
Available as intra-company course (i.e. dedicated session on demand)
Course content can be customised on demand under specific conditions.
Objectives
By the end of this training, participants will be able to:
- gain a deep view of the different main segments included within the infrastructure sector;
- understand the different key concepts impacting the infrastructure operations (focused on the main infrastructure categories, including green energy and transportation);
- understand and apply the conceptual framework to perform a valuation assessment (focused on the main infrastructure categories, including green energy and transportation);
- understand the various recognised valuation methodologies used.
Content
- Key technical concepts of infrastructure
- Key valuation terms of infrastructure
- Recognised valuation methodologies
- Market multiples
- Transaction multiples
- Discounted cash flows
- Risk assessment (discount rates adjustment for stage of life of the project)
- A case study allowing participants to apply the concepts covered in the training
Target audience
- Alternative investment fund managers and their employees
- Conducting officers
- Independent board members of alternative investment funds and their general partners
- Valuation practice staff
- Financial managers
- Accountants
- Custodian officers
- Relationship managers
- Compliance officers and internal auditors
- Other professionals of the financial sector involved in the management and/or administration of alternative vehicles
Our lead experts
This training is coordinated by Alexandre Goossens, Partner, and Rafaël Le Saux, Director at PwC Luxembourg.
Alexandre Goossens is a partner at PwC Luxembourg, specialising in Alternatives Valuations Real Estate Services with over 15 years of experience as both a consultant and valuer in the real estate market. Since joining PwC in 2014, he has led a team responsible for the annual review of more than 2,000 assets across real estate, debt, infrastructure, and forestry, managing a comprehensive global real estate market database. Alexandre oversees the implementation of models and processes for fund management under AIFMD, focusing on valuation, risk, and portfolio management. He is an active member of RICS and serves as lead instructor for real estate valuation courses internally and externally, including lecturing at Neoma Business School Reims. His notable projects include managing valuation teams, co-leading PwC’s valuation center of excellence, conducting gap analyses for AIFMD functions, and advising on real estate transactions and strategy.
Rafaël Le Saux is a Director specialising in Valuation Services at PwC Corporate Finance Luxembourg, bringing 16 years of valuation expertise. Before joining PwC, he served as Conducting Officer Valuation for Partners Group’s AIFM, managing USD 120 billion of assets and participating in global valuation committees across multiple asset classes. He has over nine years of experience in valuation and modelling at a major professional services firm across France, Australia, and Chile, and also held an Associate Director role at a niche infrastructure fund focused on Public Private Partnerships in developed economies. His expertise includes AML/KYC, CTF, sanctions, and fraud, with key projects in portfolio valuation, business and intangible valuation, financial modelling, AIFM valuation advisory, and infrastructure, private equity, and venture capital.
