Equity Research Analyst - Listed Infrastructure

Harrison Street Asset Management ("HSAM") is a leading global alternative investment management firm focused on real estate, infrastructure, and credit strategies across North America and Europe. Headquartered in Chicago, Toronto, and London with offices across North America, Europe, Asia and the Middle East, the firm has over $108 billion in assets under management on behalf of institutional investors and registered investment advisors globally. Founded on a culture of innovation, HSAM is an early mover in alternative real estate and mid-market infrastructure. Today, the firm’s global team, consisting of more than 520 professionals, is committed to creating long-term value through deep sector expertise and forward-thinking strategies. We are seeking an intellectually curious and highly motivated Equity Research Analyst to cover publicly traded infrastructure companies. This role focuses on fundamental equity research across one or more areas of the global listed infrastructure universe, including telecom infrastructure (data centers, wireless towers, satellites), energy infrastructure (LNG, midstream, power, renewables, battery storage), transportation infrastructure (airports, marine ports, railroads, toll roads), and utilities (electric, gas, and water). The Analyst will develop differentiated investment views, build rigorous financial models, and communicate high-conviction recommendations that support portfolio performance. Responsibilities: Conduct in-depth fundamental research on publicly traded infrastructure companies and generate investment recommendations designed to outperform benchmark indices over time. Develop and maintain high-conviction investment theses grounded in company analysis, industry trends, valuation, and macroeconomic context. Build and update detailed financial models, including earnings, cash flow, and balance sheet forecasts. Perform valuation analysis using a range of methodologies, including discounted cash flow, dividend discount, sum-of-the-parts, and relative value frameworks. Monitor company developments, industry trends, regulatory changes, and broader economic conditions relevant to the investment outlook. Engage with company management teams, industry participants, and other primary and secondary research sources to strengthen investment insight and risk assessment. Identify changes in business fundamentals or market expectations and adjust recommendations when the investment thesis evolves. Serve as a knowledgeable resource on covered sectors and companies, with the goal of building recognized domain expertise. Update macroeconomic and company models, maintain universe and portfolio spreadsheets, and perform other duties as needed. Communicate research findings clearly and persuasively through written reports, presentations, and discussions with internal stakeholders. Other duties as assigned. Requirements: 2+ years of relevant experience in equity research, investment analysis, asset management, investment banking, consulting, or a related field. Strong financial modeling, accounting, valuation, and analytical skills. Demonstrated interest in public markets and a strong passion for investing. Excellent written and verbal communication skills, with the ability to present complex ideas clearly and concisely. High attention to detail, sound judgment, and strong critical-thinking capabilities. Ability to work independently, manage competing priorities, and perform effectively in a fast-paced environment. Intellectual curiosity, humility, coachability, and the ability to adapt when new information challenges an existing view. Prior experience covering infrastructure-related sectors is preferred, though not required. Ability to work effectively in a collaborative team environment. Programming or data analysis skills are a plus. The ideal candidate combines rigorous analytical discipline with genuine enthusiasm for listed infrastructure investing. They are comfortable forming independent views, testing assumptions, and refining recommendations as new information emerges. This is an excellent opportunity to join and learn from leading listed infrastructure portfolio managers while contributing to a growing strategy and team. In this role, thoughtful research, clear communication, and sound judgment can directly influence investment outcomes. Harrison Street is proud to be an equal opportunity employer committed to diversity, equity and inclusion in the workplace and is an affirmative action employer. All qualified applicants will receive consideration for employment without regard to veteran status, uniform service member status, race, color, religion, sex, national origin, age, physical or mental disability, genetic information or any other protected class under federal, state, or local law. If you require accessibility assistance applying for open positions, please contact our ADA Accessible Line at (312) 920-0500 or [email protected]. All information you provide will be kept confidential and will be used only to the extent required to provide needed reasonable accommodations. Harrison Street does not accept unsolicited headhunter and agency resumes. Harrison Street will not pay fees to any third-party agency or company that does not have a signed agreement with Harrison Street.