Public pension funds have spent years chasing stable, inflation-resistant returns. Jason McGaugh, Sustainability Partners’ Chief Capital Officer, argues the next answer may be running underneath American cities in the form of water and wastewater infrastructure.
In a new article for NCPERS, Jason makes the case that usage-based essential infrastructure, backed by contract cash flows, decades-long asset life, and built-in inflation escalators, can offer many of the same protections pensions look for in fixed income.
“When evaluated through a cash flow lens, usage-based essential infrastructure looks a lot like fixed income — with stable, contract-supported revenue, long asset duration, and built-in inflation escalators,” Jason writes.
👉 Read the full breakdown on NCPERS’ blog.
