INTRODUCTION
We reported in the third quarter of 2021 that the Infrastructure & Renewable energy market was continuing to go from strength to strength and this has not changed. Funds, banks and advisory firms have continued to be exceptionally busy with acquisitions, M&A and financing activity across both the large and mid-cap markets.
Many countries set aggressive targets at Cop26 in November and significant investment is required in the renewable and energy transition space globally to achieve this. It continues to be on the hottest markets where funds are confident they can invest safely and achieve strong returns. Still a relatively new market with limited operating assets available for investment, many funds are redefining their strategies and now investing in development opportunities as well as company and technologies servicing the renewable energy industry.
As previously reported, many firms have significant capital to deploy and the European infrastructure market is saturated with funds, resulting in driving up valuations over the last twelve to eighteen months. Whilst funds continue to invest in Europe, many are starting to invest further afield in the US and emerging markets as a means to seeing opportunities at better prices.
The final three months of 2021 was the busiest quarter the Infrastructure Team at Bruin has ever witnessed with numerous positions closed with our clients. Businesses needed to complete their hiring by the end of the year to have candidates join them in early 2022 with many funds paying sign on incentives for individuals leaving behind missed bonuses due in the first of the year. This trend looks set to continue for the foreseeable future.
Predictions:
The Infrastructure & Renewable Energy recruitment market is the busiest it has been in over a decade with the majority of hiring at Analyst and Associate level. However, there has been a significant increase in hiring activity at Vice President level and above and this will continue over the first half of the year with many individuals soon to collect their bonuses before leaving and firms needing to backfill these positions.
With such high demand for candidates, remuneration has increased substantially across all levels as firms look to attract and retain their employees. Aside from increases in annual salaries and bonuses, funds are offering other benefits such as better work-life balance, opportunity for candidates to take on more exposure than typically seen at their level and carry across all levels including at Analyst level. Not to mention sign on bonuses!
With over a decade of proven experience in the international infrastructure market and a leading track record, the Infrastructure Team at Bruin have started taking on retained search mandates over the last half year and this will continue throughout 2022.