GLIO Journal: Tax-efficient Infrastructure Investing

Infrastructure has highly valuable attributes for investors including attractive, risk-adjusted returns, supported by predictable cash flows, with inflation protections. Over the past several decades, investment vehicles have been created to more easily allow public investors to access this desirable asset class, including real estate investments trusts (REITs), master limited partnerships (MLPs) and closed end funds (CEFs) that invest in MLPs.

In 2011, CorEnergy Infrastructure Trust, Inc. (NYSE: CORR, CORRPrA) compared the operating characteristics and investment attributes of each vehicle and set out to build the first listed REIT focused on energy infrastructure. The firm believes other infrastructure companies could benefit from considering this tax-efficient and investor-friendly structure.

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