Macquarie’s grip on global infrastructure

Behind the Money

Topher Forhecz

Markets, Investing, News, Banking, Finance, Business, Business News, Crypto

4.4 • 350 Ratings

🗓️ 19 July 2023

⏱️ 21 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

About 30 years ago, an Australian investment company called Macquarie figured out how to turn public utilities into lucrative assets. This strategy helped catapult the company into the biggest infrastructure investor in the world. Now, its services range from delivering tap water to London to transporting gas across the United States. But recently it has emerged that one of Macquarie’s former assets, Thames Water, is struggling, and the utility’s consumers are feeling the consequences. We sit down with the FT’s infrastructure correspondent Gill Plimmer to discuss what we can learn from Thames Water’s troubles and what happens when private investments meet a public necessity.

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For further reading:

Managed by Macquarie: the Australian group with a grip on global infrastructure

The dangers of asset managers when it comes to long-term infrastructure

How the Thames Water-gate burst

Thames Water travails threaten to plunge privatised sector into crisis

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On Twitter, follow Gill Plimmer (@gillplimmer1) and Topher Forhecz (@ForheczT)

Read a transcript of this episode on FT.com

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Transcript

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0:00.0	Am I missing anything? Is this the right decision?
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0:29.7	So probably the hardest hitting question of the episode, but which water utility do you get your water from?
0:39.0	I'm with Tim's water, which is the largest privatized water utility in the UK.
0:45.0	It services London and the surrounding region and it's got about 15 million customers.
0:51.0	This is Jill Plimmer. I'm the infrastructure
0:55.0	correspondent at the Financial Times. Right now Jill has been really busy
0:59.5	reporting on the water utilities in the UK. Things aren't going well.
1:04.0	How has service been for you?
1:06.0	Have you noticed anything within your day-to-day
1:08.0	when it comes to water?
	...

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