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interface, will allow users to quickly and easily compare and benchmark the
value of different projects and efficiently make investment decisions.
The next step, Smith adds, is to develop algorithmic derived scores for projects,
based on critical approval, construction, operating variables which investors
can then use as a predictive indicator for other projects that share similar
characteristics.
Smith plans to name a full management team later this year -- including
product and commercial executives, plus developers and a chief data officer -the first of whom is managing director and infrastructure specialist Arthur
Simonson, who spent over 20 years at S&P, most recently as managing director
of credit ratings for Infrastructure and Latin America.
Smith himself founded Infraccess last year after serving as managing director
of S&P Credit Solutions at S&P Capital IQ, prior to which he spent four years as
managing director and global product head at Fitch Solutions, and three and a
half years as a managing director at Bank of New York Mellon, dealing with
structured financial products and project financings. Before joining BNY Mellon
in 2007, Smith spent 10 plus years at Citigroup in various roles, including
investment center head, business manager and senior investment officer for
the banks Citibank Alternative Investments division in New York, and as head
of credit and portfolio advisor at Citibank Credit Structures in London.
I have been involved in this market sphere for some time ever since being
head of the Asset Management Taskforce in Western Australia in the early
1990s. I have been thinking about inefficiencies in the infrastructure market
for a while, and especially over the last couple of years. For example, at BNY
Mellon, I worked on International Custody and Trust, which involved a lot of
project financing," Smith says. "Demand for infrastructure financing continues
to grow... but I also saw the weaknesses in the market -- the small number of
players, and the lack of transparency."
Infraccess will offer its database via a front-end web interface on a per user
subscription basis . Smith is currently working with NYC based product
development team Sea Salt Ventures on refining a product prototype. He
declines to give a specific date for when the service will commercially launch,
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but says the team plans to begin a testing and validation period with a select
group of early-adopter clients in October or November.
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