In Alternative Views, Private Equity Wire® goes behind closed doors with those in the know to get the latest on private markets. In this episode, we discuss the role of private markets in social and economic infrastructure with Hugo Llewelyn, CEO of Newcore Capital.
Our conversation with Llewelyn comes at a time when private markets firms are facing extensive criticism for their involvement in core infrastructure. In February, the government announced that it would cap fees for independent special educational needs (SEN) schools, following criticism that the — often private equity-backed — schools were overcharging local councils. Similar criticisms have been levied at other core infrastructure, such as water.
Newcore invests in social infrastructure assets for applications which include education, healthcare, and waste management. Llewelyn himself is a critic of the historical track record of private markets firms in core infrastructure.
We discuss private equity’s reputation in social infrastructure investment (0:55); how Llewelyn thinks core infrastructure has been mismanaged (3:05); how the regulation of these investments should be reformed (6:47); Newcore’s leasing of SEN infrastructure (10:24); and the positive role which investors can play (17:08).
