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With a locked-in customer base for their electricity, they can earn a reliable return on their investment.
Weak property rights, poorly enforced contracts and the fear that profits will be siphoned away make it hard to conceive of ventures that might generate a reliable return.
But taking the definition of ethical investment to the nth degree would mean many of the blue chip, or investible, companies that generate a reliable return would be struck off instantly.
Many experts doubted the proposal's contention that 20 percent to 30 percent waste could be safely carved from Medicaid spending in Brooklyn to yield a reliable return of about 7 percent.
To bolster his argument, Mr. Wiencek points to a note in the margins of a 1792 report to George Washington that he believes shows Jefferson, then serving as secretary of state, calculating the birth of slave children as delivering a reliable return on capital of "4 percent per annum" — a note, he claims, that no writer on Jefferson has ever mentioned.
"We want to provide a reliable return regardless of where the market is going".
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Diversified portfolios of highly rated bonds will provide reliable returns over the long haul, he said.
Investors are keen to take stakes in infrastructure because the assets pay reliable returns amid volatile financial markets.
Now that many private equity firms have become public companies, they are under pressure to provide more reliable returns.
Early Chinese infrastructure investors focused on utilities, such as water companies and airports, companies with predictable revenue streams and reliable returns.
Savills benefited from a buoyant commercial property market, where it makes most of its money, last year as investors sought more reliable returns than the stock market.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com