Low volatility; limited correlation with other asset classes

• Operate on a largely uncorrelated cycle to other asset classes
• Diversify even the most mature portfolio

Sustainable long-term, inflation-linked cash-flows

• Predictable long-term cash flows; typically with medium to long term contracts
• Stable, inflation linked revenues
• Low market risk

High operating margins

• Relatively low on-going variable operational and maintenance expenses

High barriers to entry

• Capital intensive assets which limit the number of natural competitors
• Strong operational experience needed to successfully manage assets

Provision of essential services

• Foundation for basic, irreplaceable public services, sometimes regulated
• Benefit from relatively inelastic demand

Opportunity for de-risking

• Provide the scope for Basalt derisking of cash flows over hold period