Brookfield Infrastructure Corp (NYSE: BIPC)

Brookfield Infrastructure Corp (BIPC) is a leading owner and operator of high-quality infrastructure assets, established in 2019 as a subsidiary of Brookfield Infrastructure. The company operates in the infrastructure sector, with its main business activities centered around regulated gas transmission systems in Brazil, regulated distribution operations in the UK, and a global intermodal logistics operation. Brookfield Infrastructure Corp's operations are supported by stable cash flows, providing visibility and certainty around its dividend payments.

The company's regulated gas transmission operation in Brazil spans over 2,000 kilometers of natural gas transportation pipelines in the states of Rio de Janeiro, Sao Paulo, and Minas Gerais. This operation benefits from stable long-term cash flows, with 100% of its capacity fully contracted under long-term "ship-or-pay" agreements. These assets operate under perpetual authorizations, which were extended in perpetuity by the Brazilian National Agency of Petroleum, Natural Gas, and Biofuels in 2021.

In the UK, Brookfield Infrastructure Corp operates the leading independent "last-mile" multi-utility connection provider, with approximately 4.5 million connections. This operation generates stable cash flows underpinned by a diverse customer base throughout England, Scotland, and Wales.

The company's global intermodal logistics operation is the world's largest lessor of intermodal containers, with a fleet of approximately 7 million twenty-foot equivalent units (TEUs). The operation includes the acquisition, leasing, re-leasing, and subsequent sale of multiple types of intermodal containers and chassis to customers, which include the largest container shipping lines.

Brookfield Infrastructure Corp's position within the industry is strong, with a diversified portfolio of assets that provides scale efficiencies and enhances the service quality provided to its customers. The company's relationship with Brookfield provides it with competitive advantages, including the ability to leverage Brookfield's transaction structuring expertise, pursue acquisitions of businesses that own infrastructure assets, and participate alongside Brookfield in or alongside Brookfield-sponsored or co-sponsored consortiums, partnerships, and companies.

The company's customers include some of the largest energy retailers in the UK, which serve residential and commercial users. Brookfield Infrastructure Corp's regulated distribution operation is critical to the markets in which it operates, and the company is well-positioned to capture growth opportunities in the UK and Brazil.

Brookfield Infrastructure Corp has a strong commitment to conducting its business in a sustainable and ethical manner. The company has a sustainability program that is integrated into the full asset life cycle, beginning with initial due diligence, through the acquisition, operational oversight, and ultimately the sales process. Brookfield Infrastructure Corp's sustainability program is overseen by the Governance and Nominating Committee of Brookfield, which receives regular updates on sustainability initiatives throughout the year from each business group.

In 2023, the company made progress on several sustainability initiatives, including the publication of its annual Sustainability Report, which included its inaugural Taskforce for Climate-related Financial Disclosures (TCFD) disclosures. The company also reviewed the results of its screening-level climate assessment, which utilized transition and physical scenarios to provide a view of potential climate risks and opportunities across its businesses.

Brookfield Infrastructure Corp's organizational structure is designed to ensure that the company controls, or has an appropriate measure of direct oversight over, the operations of its subsidiaries. The company's corporate structure includes Brookfield Infrastructure Corp as a Bermuda exempted company, the partnership as a Bermudian exempted limited partnership, Brookfield Corporation as a Canadian company that is the general partner of the partnership, Brookfield Reinsurance as a Bermuda company that is the sole general partner of Brookfield Infrastructure Special L.P., and Brookfield Asset Management as a global alternative asset manager that is owned 75% by Brookfield Corporation and 25% by Brookfield Asset Management through their ownership of common shares of the Asset Management Company.