Infra A Penny

In this episode, Matt Dimond, Head of Client Capital at SIMCo, explores how infrastructure credit has evolved from a niche investment strategy into a core pillar of global capital allocation.We discuss the dramatic expansion of the infrastructure universe, from traditional utilities and transport to digital assets, renewable energy, and specialised social infrastructure, and the powerful themes driving this growth, including energy transition, digitalisation, and demographic change.We examine how the asset class has performed through major market disruptions such as the GFC and COVID-19, highlighting its resilience, defensive characteristics, and low correlation to broader market cycles.The conversation also dives into the scale of today’s market, the structural imbalance between infrastructure equity and debt, and why private credit providers are playing an increasingly central role in financing mid-market transactions. Matt explains how regulatory shifts, investor demand, and capital efficiency considerations have shaped the asset class, and why infrastructure credit is now firmly “coming of age.”We also look ahead and outline why infrastructure credit is well-positioned for continued growth, supported by global investment needs, sustainability imperatives, and increasing investor recognition of its role in diversified portfolios.

In this special International Women’s Day episode of Infra a Penny, three women from SIMCo come together to share reflections on building a career in infrastructure finance. From early opportunities and rapid responsibility to the realities of working in a small, high-performing team, the conversation explores what progression really looks like and how support, visibility, and culture can shape that journey. The episode dives into this year’s theme, “Give to Gain,” unpacking how generosity of time, support and knowledge plays a critical role in both individual growth and collective success. Through personal stories, the team reflects on the importance of advocating for others, learning from those around you, and building confidence by stepping outside your comfort zone. Along the way, they touch on the unique advantages of working in a smaller firm, the value of male allyship in a traditionally male-dominated industry, and the lessons that have shaped their careers so far. Whether you’re early in your career or simply interested in how different factors come together to drive progression, this episode offers a thoughtful and relatable perspective on what it means to grow (and help others grow) in today’s workplace.

In this episode, our CEO and CIO, Randall Sandstrom explains the important factors distinguishing infrastructure credit vs general corporate credit (private and public).The five key points: Demand for infrastructure capital far outstrips the supply of infrastructure capital (the “infrastructure investment gap”).Infrastructure is a defensive asset class providing essential services with relatively inelastic demand that tends to outperform industrial credit in times of economic weakness. Infrastructure debt is a heavily covenanted asset class with extensive credit enhancements that are often lacking in corporate credit. Often, infrastructure revenues are contracted and steadier, which decreases business risk.Infrastructure lending is normally against mission critical, hard assets.Hear how these factors contribute to infrastructure credit returns being less volatile with lower default rates and lower loss rates than general corporate credit.

In this episode of Infra A Penny, we take a closer look at what fund operations really means at SIMCo and why it’s far more than a traditional back-office function.Leah is joined by Daniel Hoodeh, Head of Fund Operations, to explore how portfolio management, liquidity oversight, hedging, reporting, and operational controls all play a central role in running infrastructure credit funds effectively.Dan shares his career journey through global institutions and reflects on what drew him from large-scale banking into the fast-paced, high-ownership environment of a boutique infrastructure credit manager.Whether you’re curious about the inner workings of private credit funds, considering a career in fund operations, or interested in how infrastructure investing is supported behind the scenes, this episode highlights just how impactful the function can be.

In this episode of Infra A Penny, we sit down with Anurag Gupta, SIMCo’s Chief Risk Officer and Chair of the Investment Committee. Anurag oversees risk management, compliance, and operations across our funds, bringing over two decades of experience in project finance and infrastructure investment.Together, we cover Anurag’s career journey, including his role on the Board of TfL and the unique perspective it brings, and how he became SIMCo’s CRO. Anurag talks us through standout projects across transport, power, and social infrastructure from his career and shares insights into the future of nuclear power, including the landmark Sizewell C project.This conversation offers a behind-the-scenes look at the crucial role of risk management in infrastructure investing and why it sits at the heart of what we do at SIMCo.

In this more technical episode of Infra A Penny, our CEO gives a deep dive into SIMCo’s economic and market outlook for the next year. Randall Sandstrom unpacks how slowing growth, falling inflation and anticipated interest rate cuts in the US and UK could shape the investment landscape over the coming months.We also explore how different regions are responding to changing economic conditions and what this could mean for infrastructure debt investors. If you’re interested in the macro forces driving markets, and how SIMCo is positioning for them, this episode offers an expert view from the top.

We flip the script for the second time, hearing from the companies we have lent to and partnered with on what it’s like to work with SIMCo.In the last instalment of this special two-parter, our borrowers, Pioneer Point Partners and CCI, share how we’ve supported their projects and why strong lending relationships matter so much in infrastructure.Whether you're a sponsor, looking for funding, or an investor curious about the asset class, this episode offers a rare behind-the-scenes look at what makes successful partnerships work in the infra credit space.

For the first time on 𝘐𝘯𝘧𝘳𝘢 𝘈 𝘗𝘦𝘯𝘯𝘺, we flip the script, hearing from the companies we have lent to and partnered with on what it’s like to work with SIMCo.In this special two-parter, our borrowers, Workdry International and SDCL, share how we’ve supported their projects and why strong lending relationships matter so much in infrastructure.Whether you're a sponsor, looking for funding, or an investor curious about the asset class, this episode offers a rare behind-the-scenes look at what makes successful partnerships work in the infra credit space.

This episode we're joined by a longstanding member of SIMCo, Keeler Mears, to discuss the complex but critical topic of the Energy Transition.Hear Keeler's insights on how economies need to go beyond just replacing fossil fuels and rethink how we generate and deliver power in a way that’s clean, resilient, but also equitable. We discuss some of the challenges, like intermittency and policy uncertainty, posed to the real momentum that’s being driven by innovation, global collaboration, and strategic capital allocation, including by the likes of SIMCo as we have and continue to finance projects that support the global Energy Transition.

We sit down with a few SIMCo colleagues to chat about their experience of this year's offsite to Leeds Castle in Kent and get to hear some of their highlights and learnings from these kind of team getaway days.

This episode we are joined by SIMCo’s Executive Director Rahul Narang to explore why healthcare is attracting infrastructure investors, particularly within Europe. He unpacks some of the evolving dynamics like ageing populations, budget pressures, and the role of private capital in public systems. From long-term care in the UK to German diagnostic imaging, hear how SIMCo identifies “infra-like” healthcare opportunities and what sets us apart as a credit provider in the space.

The FTTH landscape in Europe is quite diverse. Some countries have achieved near-universal fibre connectivity, while others are still facing significant hurdles. As a lender, this creates both risks and opportunities.In this discussion, our founding partner and Head of Infrastructure, Dolf Kohnhorst shares his insights on the fibre sector and explores some of the key reasons behind these vast differences between markets, drawing upon his 34 years of project finance experience.

SIMCo is the Investment Adviser and portfolio manager for the Sequoia Economic Infrastructure Income Fund (SEQI), which this month celebrates 10 years since its IPO. We've gathered some key individuals who have been pivotal in building the fund up to achieve what it has over the last decade. In this episode, they take turns walking us through each year of the fund's history and what the world was like at the time from 2015 to present day, as well as looking to where we're headed for the future. So without further ado, listen now to some of the most esteemed professionals in infrastructure debt share their insights and experiences from the last 10 years. Happy 10-year anniversary SEQI!

Ever wondered what it's like to be at the forefront of infrastructure debt? Find out here as some of SIMCo's newest recruits kick off the year sharing their experiences so far on how they've found working at SIMCo, the global specialist in private infra credit.

Steve Cook discusses the post election outlook for US infrastructure lending.