Alistair Perkins, head of project finance and infrastructure debt at NN IP, has been involved in financing infrastructure projects for over 20 years. The types of deals have not really changed. He and his team still provide financing for government buildings, social housing, public transport, fibre-optic networks and hospitals, for example. Most of the projects have clear social benefits and positively affect many people’s lives. What has changed is the focus. In the early days, only the financial benefits and risks were evaluated. Now, an increasing number of investors want to make a positive impact, and that means also finding investments that contribute to the “S” of ESG. In this week’s podcast, Alistair explains why private debt is so well-suited to achieving social impact and looks at some of the challenges investors face when it comes to putting a value on social factors.