Abu Dhabi Investment Council (ADIC) is a keen trader of infrastructure secondaries, leveraging its longstanding infrastructure portfolio to actively buy and sell stakes in the asset class.

In contrast, Skandia Mutual Life, the Swedish insurer, takes a more reserved approach and avoids participating in secondary market transactions for infrastructure investments.

This divergence in strategy reflects differing portfolio management philosophies among large institutional investors. Infra specialists Saoud Al Mulla and Hans Forssman note that while some investors view secondaries as an efficient way to enter or exit positions, others prefer direct primary investments or long-term holding strategies.

The split highlights the varied approaches to infrastructure investing among global allocators, particularly between sovereign wealth funds like ADIC and insurance companies such as Skandia Mutual Life.

Reporting by Joe Marsh for Infrastructure Investor.