GCP Infrastructure Investments (GCP) has announced a potential three-way merger between it, GCP Asset Backed Income (GABI), and RM Infrastructure Income (RMII). As we explore in this note, this has the potential to address some of the issues that may have given rise to GCP’s exceptionally wide discount. Following a period of impressive NAV growth through 2022, GCP’s half-yearly report for the six months ending 31 March 2023 and the recently published end-June NAV showed a period of consolidatio ....