Adrian Mucalov coverage in Deal Street Asia: Actis sees rise in infra secondaries as assets mature in EMs

Adrian Mucalov, Partner and Head of Long Life Infrastructure at Actis, spoke with Deal Street Asia about how the landscape for infrastructure investment in growth markets is evolving.

Adrian points out that the seller universe has expanded well beyond traditional family-owned conglomerates and corporates. Today, private fund managers are increasingly active, with more assets reaching operational maturity and generating stable cash flows – making them attractive for secondary trades.

Key takeaways from Adrian’s interview include:

• Broader seller universe: the pool of sellers now includes private fund managers, reflecting the maturation of infrastructure assets in markets like Asia and Latin America.
• Long-term strategy: many financial investors remain focused on building assets, but Actis also sees a critical need for long-term infrastructure strategies that can hold and optimise assets over extended periods.
• Market maturity: The growing interest from global investors signals increasing market maturity and demand for infrastructure investments across the risk spectrum in emerging economies.

Click here to read the full article and read on below for some of Adrian’s commentary.

Adrian Mucalov, Partner and Head of Long Life Infrastructure at Actis, commented:

“Most financial investors who are investing in… our markets are still focused on the opportunity to build assets. Many of them have traditional private equity strategies that are not designed to hold the assets for long periods, so we think there’s a real need for a long-term infrastructure strategy.”

Disclaimer

The statements made by Adrian Mucalov herein regarding infrastructure investment in growth markets are as of 18 June 2025 and represent the views of Actis which is not research and should not be treated as research. Historic market trends are not reliable indicators of actual future market behaviour or future performance of any particular investment which may differ materially and should not be relied upon as such. The information contained herein is as of June 2025, unless otherwise indicated, is subject to change, and Actis assumes no obligation to update the information herein. Risk management seeks to mitigate risk but does not eliminate risk and does not protect against losses.